A company's inventory records indicate the following data for the month of April: Date Activities April 1 Beginning inventory April 7 Purchase April 11 Sale April 16 Purchase April 22 April 29 Sale Purchase Units Acquired at Cost 700 units @ $36 = $25,200 580 units @ $40 = $23,200 Units Sold at Retail 500 units @ $44 = $22,000 1,000 units @ $110 400 units @ $110 480 units @ $50 = $24,000 If the company uses the first-in, first-out (FIFO) method and the perpetual inventory system, what is the value of cost of goods sold?