Morgan Inc. has the following units and costs for the month of April:
Beginning inventory, April 1
Purchase 1, April 9
Sale 1, April 12
Purchase 2, April 22
Units Purchased at Cost
Units Sold at Retail
1,200 units at $25
1,500 units at $28
2,400 units at $45
1,000 units at $30
If Morgan uses a perpetual inventory system, what is the cost of ending inventory under FIFO at April 30?
O a. $69,500
Ob. $63,600
Oc. $32,500
d. $38,400
