At December 31, 2007, the Following Information Was Available from Dole

Multiple Choice

At December 31, 2007, the following information was available from Dole Co.'s accounting records: $\begin{array}{lrr}&\text { Cost }& \text { Retail }\\\text { Inventory, 1/1/07 } & \$ 147,000 & \$ 203,000 \\\text { Purchases } & 833,000 & 1,155,000 \\\text { Additional markups } & & 42,000 \\\text { Available for sale } & \$ 980,000 & \$ 1,400,000\end{array}$ Sales for the year totaled $1,050,000.Markdowns amounted to $10,000.Under the lower-of-cost-or-market method, Dole's inventory at December 31, 2007 was

A) $294,000.
B) $245,000.
C) $252,000.
D) $238,000.