You use the periodic inventory system and the FIFO cost flow assumption in accounting for inventory and cost of goods sold. The following data are for the current year:

	Units	Unit Cost	Total Cost
Beginning Inventory	10	$7	$70
Purchase #1	60	$8	$480
Purchase #2	15	$9	$135
	85		$685

A physical count reveals that 20 units remain in inventory at the end of the year. The cost of good sold using the FIFO method is:

a. $117 b. $175 c. $510 d. $575