Student- All Courses Wendpoulomde Alex Junior KABORE 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 8 units for $100 each. ARM uses perpetual inventory system and FIFO method. How much is the gross profit for the company? Select one: a. 848 b. 836 c. 764 d. 1600 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 8 units for $100 each. ARM uses perpetual inventory system and FIFO method. How much is the gross profit for the company? Select one: a. 848 b. 836 c. 764 d. 1600