A company has inventory of 10 units at a cost of $10 each on June 1. On June 3, it purchased 20 units at $12 each. 12 units are sold on June 5. Using the FIFO periodic inventory method, what is the cost of ending inventories?
a. $120.
b. $216.
c. $128.
d. $130.
e. $140.
Answer: B
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