Inventory records for Herb's Chemicals revealed the following: March 1, 2018, inventory: 1,000 gallons @ $7.20 = $7,200 Purchases: Sales: Mar. 10 600 gals @ $ 7.25 Mar. 5 400 gals Mar. 16 Mar. 23 800 gals @ $ 7.30 Mar. 14 700 gals 600 gals @ $ 7.35 Mar. 20 500 gals Mar. 26 700 gals Cost of goods sold for the sale on March 14, 2018 assuming FIFO in a perpetual inventory system would be: A) $4,960. B) $5,060. C) $5,045. D) $5,070.