A company had the following inventory activity during June: Unit Total Units Cost Cost Beginning inventory 450 $9.50 $4,275 Purchases: June 1,500 10 15,000 5 June 900 10.25 9,225 13 Sales: June 1,100 8 June 600 24 If the company is using a FIFO cost formula and a periodic system, what is the cost of goods sold? $17,225 $17,000