ABC Company uses the aging method to estimate uncollectible accounts expense. Prior to adjustment at December 31, 2020, the Allowance for Doubtful accounts has a credit balance of $15,670. The following represent the result of an aging of the accounts receivable at December 31, 2020: Age groupings Amount of accounts receivable Estimated percentages probably uncollectible $220,000 1% Not yet due 1-60 days past due $80,000 5% 61-90 days past due $30,000 20% Over 90 days past due $20,000 40% Based on the above figures, in the adjusting entry that should be recorded as of December 31, 2020: ABC Company uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows: Number of units Unit cost 13 $3.6 Beginning inventory and purchases Beginning inventory (January 1) Purchase (January 13) Purchase (January 24) 15 $3.65 18 $3.7 On January 14, ABC sold 24 units of this product. Assuming that ABC Company uses the FIFO flow assumption, the cost of goods sold to be recorded at January 14 is: Select one: a.$81.2 b.$88.5 c.$87.15 d. $86.95