50. Assume that Fey Company reports the following initial balance and subsequent purchase of inventory. Inventory balance at beginning of year 1,200 units @ $60 each $ 72,000 Inventory purchased during the year 1.800 units @ $90 each 162.000 Cost of goods available for sale during the year 3,000 units $234.000 Assume that 500 units are sold during the year. What amount is reported for cost of goods sold using the LIFO method