1. Carter Electronics uses the periodic inventory system. Du…
1. Carter Electronics uses the periodic inventory system. During March, Carter had the following units available for sale: Beginning inventory: 100 units at $10 eachMarch purchase: 100 units at $12 eachMarch purchase: 100 units at $14 each Carter sold 220 units during March. Under FIFO, the oldest units are assigned to cost of goods sold, and the newest units remain in ending inventory. What is the cost of Carter’s ending inventory? 1. $800 2. $960 3. $1,120 4. $2,480 Instructions to students: Type in the number of the answer of your choice (type in either 1, 2, 3, or 4). Do not type in a decimal after inputting the number.