5. The Loyd Company had 150 units of product Omega on hand at December 1, Year 1, costing $400 each. Purchases of product Omega during December were as follows Date Units Unit Cost Total Cost December 7 100 $440 44,000 December 14 200 $460 92,000 December 29 300 600 $500 150,000 286,000 Sales during December were 500 units on December 30. Assume a periodic inventory system is used. The cost of ending inventory at December 31, Year 1 under the FIFO method would be: a. $100,000 b. $104,000 c. $115,000 d. $125,000