Appleton Appliances uses a periodic inventory system. On April 30. Appleton has two refrigerators on hand at a cost of $3,400 each (serial numbers 22034892 and 22034894). In May, the company purchases four refrigerators from GE for $2,400 each (serial numbers 22042631 through 22042634). In June, the company purchases five more refrigerators for $3.500 each (serial numbers 22050964 through 22050968) In July, Appleton sells two of these refrigerators (serial numbers 22034894 and 22042631). There were no additional purchases or sales during the remainder of the year. Appleton Appliances uses the specific identification method. What is its cost of goods sold? Multiple Choice $6.BOO $6.200 $7,000 $5,000