The Package Company sells product B. During the year, the Company moved to a new location, the inventory records for product B were misplaced. The bookkeeper has been able to gather some information from the sales records and gives you the data shown below: June purchases: Date Quantity Unit Cost June 1 15, 000 P80.00 June 8 16, 000 75.00 June 16 17,000 81.00 June 23 18,000 82.00 Total 66,000 On June 30, 20,000 units were on hand with a total value of P1,683,000. Package has always used a periodic FIFO inventory costing system. Gross profit on sales for June was P2,572,500. Gross profit on sales represents 35% of net sales. Package has consistently provided a 2% discount on all sales. Unit selling price is P125. What is the unit cost of the beginning inventory? a) P79.50 b) P83.04 c) P86.93 d) P90.82