Lowery Company
Lowery Company Uses a Perpetual Inventory System -Refer to the Information Provided in the Figure Lowery Company

Lowery Company
Lowery Company uses a perpetual inventory system. The following information is available for the month of March:
$$\begin{array} { l l c } \text { Mar. } & 1 \quad \text { On hand, } 10 \text { units at \$2 each } &\$ 20 \\4 & \text { Sold } 8 \text { units for } \$ 10 \text { each } & 80 \\22 & \text { Purchased } 50 \text { units at } \$ 4 \text { each } & 200 \\26 & \text { Sold } 48 \text { units for } \$ 10 \text { each } & 480\end{array}$$
-Refer to the information provided in the figure Lowery Company.If the company uses the FIFO inventory costing method,how much is ending inventory at March 31?

A) $8
B) $12
C) $16
D) $40