Grays Company has the following purchases and sales during the month of August. Using the FIFO perpetual Inventory method, what amount will be reported as cost of goods sold for the 12 units that were sold? Date Units Acquired at Cost Activities Units Sold at Retail August 1 Beginning inventory August 3 August 6 Purchase Sales 10 units @ $50 = $500 20 units @ $52 $1,040 = 12 units sold Multiple Choice $568. $520. $604. $570. $620