Question 7 Not yet answered Marked out of 1.00 p Flag question The inventory data for an item for the month of May are as follows: May 1 Inventory 20 units at 50 May 5 Sold 15 units May 10 Purchased 30 units at 55 May 20 Sold 30 units May 29 Purchased 20 units at 60 What is the cost of the merchandise inventory of 25 units on May 31, using the LIFO- method? Select one: O a. 1,275 o b. 1,450 O c. 1,750 O d. 1,700