Stone Pine Corporation, a calendar year taxpayer, has ending inventory of 160,000 on December 31,2012. During the year, the corporation purchased additional inventory of $415,000. If cost of goods sold for 2012 is $470,000, what was the beginning inventory at January 1, 2012? A) $55,000; B) $215,000; C) $255,000; D) $310,000; E) None of the above