Morvan Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Beginning work in process inventory:
Units in the beginning work in process inventory	650
Materials costs	$ 5,100
Conversion costs	$ 7,100
Percent complete with respect to materials	90%
Percent complete with respect to conversion	80%
Units started into production during the month	9,100
Units transferred to the next department during the month	8,300
Materials costs added during the month	$242,100
Conversion costs added during the month	$371,000
Ending work in process inventory:
Units in ending work in process inventory	1,450
Percent complete with respect to materials	80%
Percent complete with respect to conversion	40%

The cost of a completed unit transferred out of the department is closest to: (Round your intermediate calculations to 2 decimal places.)

$75.39

$75.88

$69.64

$71.66