Graham Company uses a periodic inventory system. Details for the inventory account for the month of January, 2010 are as follows: 
An end of the month (1/31/10) inventory showed that 120 units were on hand. How many units did the company sell during January, 2010?
Definitions:
Factor of Production
An input used in the production of goods or services, such as labor, land, capital, and entrepreneurship.
Factor of Production
An input used in the production of goods or services, such as land, labor, capital, and entrepreneurship.
Competitive Market
A market structure characterized by many buyers and sellers, where no single entity can dictate the market price of the product or service.
Final Product
The last output of a production process, after all stages of production are completed.
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