February 5,Panda Gardens Puts Up Its Chinese Cookie Inventory as Well

Multiple Choice

February 5,Panda Gardens puts up its Chinese cookie inventory as well as any future inventory as collateral for a loan from Fortune Bank.Fortune Bank perfects by filing a financing statement the same day.June 10,Panda Gardens buys unstuffed fortune cookies from Olga under a purchase money security interest.Olga notifies Fortune Bank of her PMSI and perfects the PMSI by filing a financing statement before Panda Gardens takes possession of the unstuffed cookies.Panda Gardens,failing to predict hard times,filed for bankruptcy.As between Fortune Bank and Olga,who has the superior interest in the unstuffed fortune cookies purchased on June 10?

A) Fortune Bank. The first to file has the priority interest in the inventory.
B) Olga, in this situation. Her PMSI in inventory has met the conditions in order to take priority over a conflicting perfected security interest.
C) Olga and Fortune Bank share proportionately the priority interest in the inventory.
D) Neither Olga nor Fortune have a priority interest. The employees and the IRS have superior claims.