Copper Bookstore had 100 units on hand at November 1, costing $5 each. Purchases and sales during the month of November were as follows:

Date Purchases Sales

November 5 50 @ $7.50

15 75 @ $6

20 50 @ $7

29 100 @ $9.50

Copper does not maintain perpetual inventory records. According to a physical count, 75 units were on hand at November 30.

The cost of the inventory at November 30, under the FIFO method is:

a. $375.

b. $500.

c. $750.

d. $950.