1. The following data represent the beginning. inventory and, in the order of occurrence, the purchases and sales of Tina Star Company for an operating period. Units Unit Cost Total Cost Units Sold Units on Hand Beginning Inventory 20 $116 $ 2,320 20 Purchase No. 1 20 124 2,480 40 Sale No. 1 30 10 Purchase No. 2 90 128 11,520 100 Sale No. 2 80 20 Purchase No. 3 70 144 10,080 90 Totals 200 $26,400 110 Assuming Tina Star Company uses FIFO perpetual inventory procedures, sale No. 1 is recorded as an entry to Cost of Goods Sold for: A) $3,600 B) $3,640 C) $3,560 D) $3,840