ARM Inc. began in December 2021 holding 10 units of inventory that cost $50 each. During the month, ARM bought and sold inventory as follows: Dec.3 Sold 8 inits for $100 each. Dec 16 Purchased 10 units at $56 each Dec.23 Sold B units for $100 each. ARM uses perpetual inventory system and FIFO method. How much is the gross profit for the company? Select one a.836 b. 848 c. 1600 d. 764