Adam Inc uses a perpetual inventory system. Jan. 1 On hand, 10 units at $2 each $ 20 4 Sold 8 units for $10 each 80 22 Purchased 50 units at $4 each 200 26 Sold 48 units for $10 each 480 If Adam uses the FIFO method, how much is ending inventory on January 31?
a. $ 8
b. $ 12
c. $ 16
d. $ 40
c
Business
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