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Use this information about Penny, Inc, to answer the question that follows. Penny, Inc, employs a process cost system and uses the FiFO cost flow method. Direct materials are added at the beginning of the process. Here is information about the July activities: On July 31: Ending inventories 1,600 units, 40% complete Determine the cost of goods completed and transferred out during July. Round unit cost computations to the nearest cent and final answer to the nearest whole dollar. a. 5225,060 b. 5236,905 c. 5227,251 d. $228,200