A company purchased 130 units for $30 each on January 31. It purchased 170 units for $25 each on February 28. It sold 170 units for $60 each from March 1 through December 31. If the company uses the first-in, first-out inventory costing method, what is the amount of Cost of Goods Sold on the income statement for the year ending December 31? (Assume that the company uses a perpetual inventory system.)

1) $8150

2) $4250

3) $3900

4) $4900