A company purchased 90 units for $20 each on January 31. It purchased 180 units for $25 each on

February 28. It sold 180 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.)