A company had 2,000 units of opening inventory that cost $20 per unit. On May 1, 2,000 units were purchased at a cost of $22 each, and on September 1, another 2,000 units were purchased at a cost of $24 each. If 4,000 units were sold during the year, the company will report cost of goods sold of if the method of inventory valuation is used.

List A List B

A. $88,000 LIFO

B. $92,000 Average cost

C. $84,000 FIFO

D. $88,000 FIFO