The Aniquilado Company uses process costing and has several production departments. Aniquilado uses the FIFO method. In the firm's first production department, all direct materials are added at the beginning of the process. This department has the following inventory information.

BWIP physical units (40% complete with respect to conversion costs): 1,200 Units completed: 25,000 EWIP physical units (20% complete with respect to conversion costs): 800

This period, the department has calculated the following cost per equivalent unit rates for direct materials and conversion costs.

$175 Direct material cost per equivalent unit. $150 Conversion cost per equivalent unit

What is the department's ending WIP balance for this period (round to cents if necessary)?

Group of answer choices

$164,000

120,000

$260,000

$140,000