The Bisset Corporation uses Raw Material A in a manufacturing process. Information as to balances on hand, purchases, and requisitions of Raw Material A is given in the following table.

Raw Material A

Date		Transaction	Number of Units	Unit Price		Balance of Units
Jan. 1	Beginning balance		100	$1.40		100
Jan. 24	Purchased		300	$1.55		400
Feb. 8	Issued		80			320
Mar. 16	Issued		140			180
Jun. 11	Purchased		150	$1.62		330
Aug. 18	Issued		130			200
Sep. 6	Issued		110			90
Oct. 15	Purchased		150	$1.70		240
Dec. 29	Issued		140			100

If a perpetual inventory record of Raw Material A is maintained on a FIFO basis, the March 16 issue will consist of:

a.	20 units @ $1.40 and 120 units @ $1.55.
b.	100 units @ $1.40 and 40 units @ $1.55.
c.	140 units @ $1.55.
d.	100 units @ $1.55 and 40 units @ $1.40.