Hopkins Inc. has a beginning inventory balance of $450 (150 units purchases at $3 each). The...
Hopkins Inc. has a beginning inventory balance of $450 (150 units purchases at $3 each). The following table shows the company's purchases and sales of inventory during the month of January: Purchases units cost/unit January 10 300 $4 January 22 500 $5 Sales units price/unit January 20 400 $8 January 28 400 $9 Assuming that Hopkins Inc. uses the periodic LIFO method, determine the value of inventory at the end of January.
Select one:
a. $450
b. $3,400
c. $750
d. $4,150
e. $3,700
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