Smart Phones,Inc

question 22

Multiple Choice

Smart Phones,Inc.had the following balances and transactions during 2019.

The company maintains its records of inventory on a perpetual basis using the last-in,first-out inventory costing method.Calculate the amount of ending Merchandise Inventory at December 31,2019 using the lower-of-cost-or-market rule.(Round any intermediate calculations two decimal places,and your final answer to the nearest dollar. )

• A)$2,800
• B)$3,244
• C)$3,542
• D)$3,404