Hammond Stationery uses the LIFO method of valuing inventory and has 350 pen sets remaining in inventory. Hammond purchased the pen sets over a six month period as follows: May 1: 175 at $20.50; May 15: 125 at $22.00; July 7: 75 at $24.00; and October 1: 150 at $23.50. Compute the value of the ending inventory. a) $8057.00 b) $7,875.00 c) $7,537.50 d) $8,075.00