Harding Systems, Incorporated uses a periodic inventory system. The purchases of a particular product during the year are shown below:

January 1	Beginning inventory	1,100	units @ $ 7.25	$ 7,975
February 7	Purchase	1,450	units @ $ 7.50	10,875
July 10	Purchase	1,600	units @ $ 8.00	12,800
November 25	Purchase	1,000	units @ $ 8.50	8,500
	Total	5,150		$ 40,150

At December 31 the ending inventory consisted of 1,500 units.

Compute the cost of goods sold for the current year based on the LIFO method of inventory valuation