5. Use this inventory information for the month of March to answer the following questions. Mar 1 Beginning inventory 7 Purchase 18 Sale 22 Purchase 40 units @ $40 50 units @ $50 55 units 10 units @ $60 Assuming that a perpetual inventory system is used, what is cost of goods sold on a LIFO basis? OA. $2,700 OB. $2,850 OC $2,720 OD. $2,350