Kim's Retail had 800 units of inventory on hand at the end of the year. These were recorded at a cost of $15 each using the lastminusin, firstminusout (LIFO) method. The current replacement cost is $11 per unit. The selling price charged by Kim's Retail for each finished product is $18. In order to record the adjusting entry needed under the lowerminusofminuscostminusorminusmarket rule, the Merchandise Inventory will be ________.
A. credited by $11,200
B. debited by $11.200
C. debited by $1,600
D. credited by $1.600
