Rusty Supply House had 150 units on hand at July 1, costing $8 each. Purchases and sales during the month of July were as follows:

Date Purchases Sales

July 10 100 @ $12

15 150 @ $10

25 200 @ $11

28 225 @ $14

Rusty does not maintain perpetual inventory records. According to a physical count, 175 units were on hand at July 31.

The cost of the inventory at July 31, under the LIFO method is:

a. $1,450.

b. $1,760.

c. $1,925.

d. $2,450