The inventory of product Y at January 1 consisted of 15,000 units valued at a cost of $112, 50 Purchases during the year were: Mar 5 20, 500 units @ $7.75 per unit = $158, 875 May 12 33,000 units @ $8.00 per unit = $264,000 Sep 15 23,000 units @ $8.30 per unit = $190, 900 Nov 28 8, 500 units @ $8.44 per unit = $71, 740 On December 31, there were 30,000 units on hand. Compute the December 31 inventory using the first-in, first-out method