financeMorgan Inc. has the following units and costs for the month of April:
$$
\begin{array}{lcc}
&\textbf{Units Purchased at Cost}&\textbf{Units Sold at Retail}\\\hline
\text{Beginning inventory, April 1}&\text{1,200 units at \$25}\\
\text{Purchase 1, April 9}&\text{1,500 units at \$28}\\
\text{Sale 1, April 12}&&\text{2,400 units at \$45}\\
\text{Purchase 2, April 22}&\text{1,000 units at \$30}\\
\end{array}
$$
Refer to the information for Morgan Inc. above. If Morgan uses a perpetual inventory
system, what is the cost of ending inventory under FIFO at April 30?
a. $32,500
b.$38,400
c. $63,600
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