A company has beginning inventory of 11 units at a cost of $11 each on February 1. On February 3, it purchases 21 units at $13 each. 14 units are sold on February 5. Using the periodic FIFO inventory method, what is the cost of the 14 units that are sold?
A. $154
B. $160
C. $175
D. $165
E. $164
Answer: B
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