A company had the following inventory activity during June:

		Units	Unit Cost	Total Cost
Beginning inventory		450	$9.50	$4,275
Purchases:
	June 5	1,500	10	15,000
	June 13	900	10.25	9,225
Sales:
	June 8	1,100
	June 24	600

If the company is using a FIFO cost formula and a periodic system, what is the cost of goods sold?

$17,225

$17,000

$16,775

$16,500