Fabulous Engine Company Is a Wholesaler of Marine Engine Parts

Fabulous Engine Company is a wholesaler of marine engine parts.The activity of carburetor 2642J during the month of March is presented below.
$\begin{array}{|l|l|l|l|l|}\hline & \text { Balance or } & & \text { Unit } & \\\hline \text { Date } & \text { Transaction } & \text { Units } & \text { Unit Cost } & \text { Sales Price } \\\hline \text { March 1 } & \text { Inventory } & 3,200 & \$ 64.30 & \$ 86.50 \\\hline 4 & \text { Purchase } & 3,400 & 64.75 & 87.00 \\\hline 14 & \text { Sales } & 3,600 & & 87.25 \\\hline 25 & \text { Purchase } & 3,500 & 66.00 & 87.25 \\\hline 28 & \text { Sales } & 3,450 & & 88.00 \\\hline\end{array}$ (CMA adapted, Jun 96 #13) Refer to the Fabulous Engine Company example.If Fabulous uses a last-in, first-out periodic inventory system, the total cost of the inventory for carburetor 2642J at March 31 is

A) $196,115
B) $197,488
C) $201,300
D) $263,825
E) $296,115

Correct Answer:

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