On January 1st,2022, James Inc. had a Beginning Work-in-Process balance of $32,000 ( $20,000 of Direct Materials and $12,000 of Conversion) which consisted of 10,000 units which were 40% complete with respect to conversion costs. During January, James started production on an additional 20,000 units and incurred $40,000 in Materials and $40,000 in Conversion costs. James's Ending Work-In-Process consisted of 8,000 units which were 50\% complete with respect to conversion costs. James produces a single product. All direct materials are added at the start of the production process while conversion costs are incurred uniformly. James uses a weighted-average process costing system. What is the value of James's Cost of Goods Manufactured at the end of January? a. $24,000 b. $80,000 c. $40,000 d. $88,000