Question 17 - SBA Inc. uses wood (raw material) for its production line #2. Its beginning inventory on January 1st, 2020, is 300 units purchased at $200. SBA Inc. has purchased during 2020 the following items: February 1st: 450 units at $150 per unit July 1st: 190 units at $175 per unit December 1st: 135 units at $200 per unit SBA Inc. has sold during 2020 the following items: April 1: 275 units October 1: 500 units Required: Using the FIFO method, what will be the total amount of Ending Inventory on July 1st, 2020. Select $105,750 as your answer $105,750 Select $119,500 as your answer $119,500 Select $60,000 as your answer $60,000 Select $55,875 as your answer $55,875