Assume the following information for the Chicago Company regarding product ZYX:

January 1: Began the period with 10 units with a cost of $3.00 per unit January 4: Purchased 30 more units for $3.20 per unit. January 20: Sold 25 units for $5.00 per unit. January 30: Purchased 20 more units for $3.30 per unit.

What was cost of goods sold on January 20th assuming the perpetual inventory method and the moving average cost flow assumption?

Select one:

a. $75.00

b. $79.17

c. $80.00

d. $78.75