FIFO Aluminum Processes a Single Type of Aluminum All Materials Are Added at the Beginning of the Production

Multiple Choice

FIFO Aluminum processes a single type of aluminum.During the current period the following information was given: $$\begin{array} { | l | l | l | l | } \hline & \text { Units } & \text { Material Costs } & \text { Conversion Costs } \\\hline \text { Beginning Inventory } & 3,000 & \$ 4,500 & \$ 4,800 \\\hline \text { Started During the Current Period } & 20,000 & 48,000 & 65,000 \\\hline \text { Ending Inventory } & 2,500 & & \\\hline\end{array}$$ 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