Hala Company uses the periodic inventory system. For May 2011, the beginning inventory consisted of 24,000 units that cost $24 each. During the month, the company made two purchases: 16,000 units at $26 each on May 15, and 8,000 units at $32 each on May 23. Hala sold 32,000 units during the month. Using the FIFO method, what is the amount of cost of goods sold for the month of May 2011?; Select one: $464,000 $832,000. $784,000. $416,000