Steele Corporation has the following information for January, February, and March: February January March 10,000 Units produced 10,000 10,000 7,000 8,500 Units sold 10,500 Production costs per unit (based on 10,000 units) are as follows: Direct materials $12 Direct labor 8 Variable factory overhead 6 Fixed factory overhead Variable selling and admin. expenses 10 Fixed selling and admin. expenses There were no beginning inventories for January, and all units were sold for $50. Costs are stable over the three months. Corporation using the variable costing method What rch ending inventory for Steel th a. $15,000 b. $120,000 c. $104,000 d. $260,000