A company has beginning inventory of $50,000 and purchases during the year of $110.000 The beginning inventory consisted of 1000 units and 7000 units were purchased during the year. The company has 5000 units left at year-end. Under the weighted average-cost method what is Cost of Goods Sold? (Round any intermediary calculations to two decimal places and your final anwwer to the nearest dollar) $60,000 $100.000 O $110.000 O $140,000 $160.000