Lee Ltd. has the following units and costs for the month of April.

Beginning inventory, April 1, 1,000 units at $20 (Cost)

Purchase 1, April 9, 1,200 units at $23 (cost)

Sold 1, April 12, 2,100 units at $40 (Retail)

Purchase 2, April 22, 800 units at $25 (Cost)

If Lee uses a periodic inventory system, what is the cost of goods sold under FIFO at April 30?

a.$18,000

b.$22,300

c.$45,300

d.$49,600