FIFO Aluminum processes a single type of aluminum. During the current period the following informati

FIFO Aluminum processes a single type of aluminum. During the current period the following information was given:

   Units   Material Costs   Conversion Costs
Beginning Inventory   3,000   $4,500   $4,800
Started During the Current Period   20,000   48,000   65,000
Ending Inventory   2,500      

All materials are added at the beginning of the production process. The beginning inventory was 30% complete as to conversion, while the ending inventory was 40% completed for conversion purposes.

FIFO Aluminum uses the first-in, first-out system of process costing.

What were the costs assigned to the units transferred out this period (round equivalent unit cost to the nearest penny)?
A) $113,160
B) $113,236
C) $113,980
D) $122,300