Sheffield Company's inventory records show the following data:

		Units		Unit Cost
Inventory, January 1		11200		$8.00
Purchases: June 18		9000		8.80
November 8		6400		7.75

A physical inventory on December 31 shows 6000 units on hand. Under the FIFO method, the December 31 inventory is

Under the FIFO method, the December 31 inventory is valued at

$48000.

$49600.

$52800.

$46500.