Following are the ABC Manufacturing Co. inventory records for the month of July. The company used perpetual inventory system and FIFO cost formula.

Date	Explanation	Units	Unit Cost	Total Cost
1	Beginning inventory	6000	$5	$30000
10	Purchases	12000	$8	$96000
14	Sales	(12000)
18	Purchases	5000	$10	$50000
20	Sales	(5000)

Calculate the Inventory ending in dollars.

$58,000

$16,000

$26,000

$30,000