Prime costs for Toleto Manufacturing Company for the year total $48,500 and conversion costs are $50,000. Direct material cost for the year is $25,000. Opening work in process was $30,000 and ending work in process is 125% of opening work in process. Ending finished goods inventory is 80% of opening finished goods inventory, and cost of goods sold is $80,000 for the year. Cost of finished goods inventory at the end of the year is:

Select one:

a. $56,000

b. $10,000

c. $62,500

d. $50,000