Fischer, Inc. had the following inventory in fiscal 2020. The company uses the first-in, first-out (FIFO) method of accounting for inventory. Beginning Inventory, January 1, 2020: 100 units @ $10.00 Purchase of inventory, June 1, 2020: 200 units @ $12.00 Sale of inventory, November 1, 2020: 150 units What amount is reported as costs of goods sold? $1,600 $1,550 $1,650 $1,500