Banner Company was formed on December 1, 20X0. The following information is available from their inventory

	Units	Units Cost	Total Cost
Jan. 1, 2021	1,600	$18	$28,800
Purchases:
Feb. 5, 2021	2,600	$20	$52,000
Feb. 16, 2021	1,000	$22	$22,000
March. 10. 2021	1,800	$23	$41,400
Sales:
Jan. 10, 2021	3,000
March 15, 2021	2,000

Assume the company uses a Periodic Inventory System. A physical count of the inventory indicated 2000 units remained as of 3/31. Compute the value ($ amount) of cost of goods sold under the following method:

(1) FIFO