Inventory records for Maya, Inc. revealed the following:

Date	Transaction	Units	Unit Cost	Total Cost
July 1	Beginning inventory	5,000	$8.00	$40,000
July 13	Purchase	12,000	8.50	102,000
July 27	Purchase	18,000	9.00	162,000
Totals		35,000		$304,000

The company uses a periodic inventory system to report inventory and cost of goods sold. Sales for July (all at $10.00 per unit) totaled 27,000 units leaving 8,000 units on hand at the end of July.

Using the first-in, first-out method (FIFO), what is the companys ending inventory?

Group of answer choices

$72,000

$65,500

$238,500

$232,000