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On January 1, 2016 Oxford Company had 3,500 units in inventory at a cost of $9...

On January 1, 2016 Oxford Company had 3,500 units in inventory at a cost of $9 per unit.  During 2016 Oxford company purchased 3,000 units (Lot #1 - the first units purchased during the year) at a cost of $9.50 per unit, 4,000 units (Lot #2) at a cost of $10.50 per unit and 2,500 units (Lot #3) at a cost of $10 per unit.  The company sold 8,700 units during 2016 at a sales price of $12.25 per unit.  If Oxford Company uses a periodic inventory system and the last-in-last-out (LIFO) method, then what is the company's ending inventory for December 31, 2016?

a.

$39,100
b.

$42,008
c.

$42,504
d.

$43,000
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