Assume Milo's Company has the following information for May 2021:

May 1 Beginning inventory 400 units at $5 per unit

May 5 Purchase 1,200 units at $5.10 per unit

May 15 Purchase 2,350 units at $5.25 per unit

On May 16 Milo's Company sold 2,400 units for $7.55 each.

What is Inventory ending balance if Milo's Company uses FIFO method?

Select one:

a. $7,905.00

b. $7,930.83

c. $7,750.00

d. $8,137.50