Biscuit Bakery had the following activity in its inventory account during August 20X3.

Cost per

Date Activity Units Unit Cost Total

August 1 Beginning inventory 100 $3.00 $300

August 3 Purchase 40 3.10 124

August 7 Sale 50

August 12 Purchase 50 3.20 160

August 16 Sale 70

August 23 Sale 40

August 30 Purchase 60 3.30 198

What is the ending inventory balance at August 31, 20X3, for Biscuit Bakery if the company uses perpetual FIFO as its inventory valuation method?

A) $198.00

B) $270.00

C) $294.00

D) $297.50

E) $358.00

Note: Please show math for answer.