$\text { Neighborly Industries has the following inventory information. }$

$\text { Neighborly Industries has the following inventory information. }$
$\begin{array}{rll}\text { July }1 & \text { Beginning Inventory } & 20 \text { units at } \$ 120 \\5 & \text { Purchases } & 120 \text { units at } \$ 112 \\14 & \text { Sale } & 80 \text { units } \\21 & \text { Purchases } & 60 \text { units at } \$ 115 \\30 & \text { Sale } & 56 \text { units }\end{array}$
Assuming that a periodic inventory system is used, what is the amount allocated to ending inventory on a FIFO basis?

A) $ 7,328
B) $ 7,348
C) $ 15,392
D) $ 15,412