On July 1, 1999, Jack Company began the accounting period with inventory of 3,000 units at \(\$ 30\) each. During the period, the company purchased an additional 5,000 units at \(\$ 36\) each and sold 4,600 units. Assume the use of periodic inventory procedure for Questions 1-6.

Cost of ending inventory using FIFO is:

a. \(\$ 104,400\).

b. \(\$ 122,400\).

c. \(\$ 120,000\).

d. \(\$ 147,600\).

e. None of the above.