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 Activities Units Acquired at Cost Units Sold at Retail

August $1$ Beginning inventory $10$ units @ $$18=$ $$180$

August $3$ Purchase $20$ units @ $$20=$ $$400$

August $6$ Sales $12$ units sold

Multiple Choice

$$216.$

$$236.$

$$218.$

$$220.$

$$200.$