Assume that Ivanhoe Republic has the following inventory data: July 1 Beginning inventory 54 units at $96 Purchases 5 14 21 30 Sale Purchases Sale 240 units at $90 O $13020 O $13104 O $24720 O $24804 160 units 120 units at $92 112 units 4 Assuming that a periodic inventory system is used, what is the cost of goods sold on a FIFO basis?

Assume that Ivanhoe Republic has the following inventory data: Assuming that a periodic inventory system is used, what is the cost of goods sold on a FIFO basis? $13020 $13104 $24720 $24804