Comeback Company, a calendar-year entity, had 9,000 medical instruments in its beginning inventory for \(20 \mathrm{X} 2\). On December 31. 20X1, the instruments had been adjusted down to \(\$ 10.20\) per unit, which was the lower of average cost or market, from an actual average cost of \(\$ 10.55\) per unit. No additional units were purchased during 20X2 . The following additional information is provided for 20X2:

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Determine the cost of goods sold for each quarter, and verify the total cost of goods sold by computing annual cost of goods sold on a lower-of-cost-or-market basis.

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Inventory Replacement Quarter Date (units) Cost 1234 March 31, 20X2 8.000 $10.10 June 30, 20X2 7,500 10.35 3 September 30. 20X2 6,000 9.90 December 31, 20X2 4.000 10.00