Current Attempt in Progress

Sheridan Corp. sells one product and uses a perpetual inventory system. The beginning inventory consisted of $77$ units that cost $$20$ per unit. During the current month, the company purchased $485$ units at $$20$ each. Sales during the month totaled $356$ units for $$46$ each. What is the cost of goods sold using the LIFO method?

$$9700.$

$$1540.$

$$16376.$

$$7120.$