Johnson Fashion Inc. sells socks. During January 2014, its inventory records for one particular brand of socks were as follows: Quantity Price per pair Total Beginning Inventory 6 pairs $18 = $108 January 6 Purchase 3 pairs $16 = $48 January 10 Sale 5 pairs N/A January 15 Purchase 8 pairs $15 = $120 January 20 Sale 10 pairs N/A January 25 Purchase 4 pairs $22 = $88 Using this information, perpetual LIFO cost of goods sold is Select one:

a. $242

b. $171

c. $246

d. $240