Mendez company uses the periodic inventory system. for the current month, the beginning inventory consisted of 1,200 units that cost $15 each. during the month, the company made two purchases: 500 units at $14.50 each and 2,000 units at $14.00 each. mendez company also sold 2,150 units during the month.
using the periodic fifo method, what is the cost of ending inventory?
a. $21,700
b. $18,950
c. $20,073
d. $18,600