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Eneri Company's inventory records show the following data: Units Unit Cost Inventory, January 1 5,000 $9.20 Purchases: June 18 4,500 8.00 November 8...

 

Eneri Company's inventory records show the following data:

 


 

Units

Unit Cost

 Inventory, January 1

5,000

$9.20

 Purchases: June 18

4,500

 8.00

 November 8

3,000

 7.00


A physical inventory on December 31 shows 2,000 units on hand. Eneri sells the units for $13 each. The company has an effective tax rate of 20%. Eneri uses the periodic inventory method. 


Under the FIFO method, the December 31 inventory is valued at



$14,000.


$16,133.


$16,480.


$18,400.

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