1.) On 6/01 a company uses FIFO and had 50 @($5) units on hand at the beginning of the period. It purchased 500 @($7) more units on 6/15. On 6/16, it sold 400 units. The cost of the goods sold would be:

A. $ 2,000

B. $2,800

C. $2,700

D. $ 3,500

E. None of the above