A company purchased 100 units for $40 each on January 31. It purchased 200 units for $35 each on February 28 sold 200 units for $50 each from March 1 through December 31. If the company uses the first-in-out inventorying method, what is the amount of Cost of Goods Sold on the income statement for the year ending December 317 (Assume that the company uses a perpetual inventory system) OA $11,000 OB. $4,000 OG. $7,000 OD $7,500