A firm which prepares its financial statements according to U.S. GAAP and uses a periodic inventory system had the following transactions during the year $ Date Activity Tons(000s)per Ton Beginning inventory 500 February Purchase 8 540 May Sales 5 600 July Purchase 2 575 NovemberSales 3 620 The cost of sales (in '000s) is closest to: Select one: . A. $4,390 using FIFO. . B. $4,342 using weighted average. . C. $4,435 using LIFO. . D. $4,280 using LIFO. . E. $4,550 using FIFO