Jensen Corporation The following information is available for Jensen Corporation for the current month: Started this month Beginning WIP 80,000 units (40% complete) 7,500 units Normal Spoilage (discrete) 1,100 units Abnormal spoilage 900 units Ending WIP (70% complete) Transferred out Beginning Work in Process Costs: Material Conversion Current Costs: Material 13,000 units 72,500 units $10,400 13,800 $120,000 Conversion 350,000 All materials are added at the start of production and the inspection point is at the end of the process. Refer to Jensen Corporation. What is the cost assigned to ending inventory using FIFO? Select one: a. $75,920 b. $53,144 c. $58,994