Eloise Corp What Is the Cost of Ending Inventory for Eloise Corp

Eloise Corp. uses the FIFO retail inventory method and reports the following information:
$\begin{array}{c}\begin{array}{l}\underline{\text { Retail }} \\\$ 28,000 \\24,800\\1,000 \\3,000 \\400\end{array}\begin{array}{lll}\underline{\text {Cost}}\\ \$ 21,450 \\\\\\2,100\\\\\end{array}\begin{array}{lll}\\\text {Purchases}\\\text {Sales}\\\text {Net markups}\\\text {Beginning inventory}\\\text {Net markdowns} \end{array} \end{array}$


What is the cost of ending inventory for Eloise Corp.?

A) $4,760
B) $5,100
C) $5,209
D) $5,552

Correct Answer:

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