Basil Industries Reported the Following Information for December What Was the Ending Balance in Basil's Finished Goods Inventory

Basil Industries reported the following information for December:
$$\begin{array}{|l|r|}\hline \text{Beginning balance, Raw Materials Inventory} & \$187,500 \\\hline \text{Beginning balance, Work in process Inventory} & 300,000 \\\hline \text{Beginning balance, Finished Goods Inventory} & 106,250 \\\hline \text{Purchases of raw materials} & 337,500 \\\hline \text{Factory electricity} & 62,500 \\\hline \text{Direct labor payroll} & 200,000 \\\hline \text{Depreciation on factory equipment} & 218,750 \\\hline \text{Insurance on factory building} & 50,000 \\\hline \text{Indirect materials used in production} & 43,750 \\\hline \text{Total raw materials used in production} & 406,250 \\\hline \text{Indirect labor payroll} & 150,000 \\\hline \text{Cost of goods manufactured} & 1,250,000 \\\hline \text{Cost of goods sold} & 1,312,500 \\\hline\end{array}$$ What was the ending balance in Basil's Finished Goods Inventory account?

A) $531,250
B) $43,750
C) $231,250
D) $343,750