Jul. 8 14 Sale Assume the company began July with 16 units of inventory that cost a total of $272. During July, the company purchased and sold goods as follows: Purchase 48 units @ $18 40 units @ $36 22 Purchase 32 units @ $20 27 Sale 48 units @ $36 Under the FIFO inventory costing method and the perpetual inventory system, How much is the cost of goods sold for the sale on July 14? A. $704 B. $720 C. $1,440 D. $1,136