The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Newtown, Inc. for an operating period.

Units

Unit Cost

Total Cost

Units Sold

Beginning Inventory

32

$18

$ 576

Sale no. 1

10

Purchase no. 1

28

20

560

Sale no. 2

32

Purchase no. 2

20

19

380

Totals

80

$1,516

42

Assuming Newtown, Inc., uses FIFO periodic inventory procedures, the ending inventory cost is:

Select one:

A. $684

B. $696

C. $722

D. $740

E. None of the above