Iman Industries has the following purchases in August. If Iman uses the LIFO method, what is the amount of cost of goods sold Iman will record on its income statement for August? Date Activity |August 1st 5 units on hand at $4 each |August 10th Purchased 13 units at $5 each |August 20th Purchased 2 units at $6 each August 28th Purchased 10 units at $7 each Iman Industries sold 20 units on August 30th