On January 1, 2016 Oxford Company had 4,500 units in inventory at a cost of $6 per unit. During 2016 Oxford company purchased 500 units (Lot #1 - the first units purchased during the year) at a cost of $6.50 per unit, 1,000 units (Lot #2) at a cost of $7 per unit , 1,500 units (Lot #3) at a cost of $7.50 per unit, and 2,000 units (Lot #4) at a cost of $8 per unit. The company sold 8,200 units during 2016 at a sales price of $12.50 per unit. If Oxford Company uses a periodic inventory system and the weighted average cost method of inventory valuation, then what is the company's ending inventory at December 31, 2016?

	a.	$ 8,244
	b.	$ 8,448
	c.	$ 8,516
	d.	$ 8,826