A company has the following inventory information and uses the periodic system:

May $1$ Beginning Inventory $15$ units at $$3$ each

May $4$ Purchase $12$ units at $$4$ each

May $7,$ Sale $,16$ units

The company uses the FIFO method of inventory costing. What is the cost of goods sold and the ending merchandise inventory?

A$.$ COGS $$49$; Merchandise Inventory $$44$

B$.$ COGS $$33$; Merchandise Inventory $$60$

C$.$ COGS $$44$; Merchandise Inyentory $$49$

D$.$ COGS $$60$; Merchandise Inventory $$33$