Lime company purchased 100 units for $20 each on January 31 . It purchased 120 units for $30 each on February 28. It sold 175 units for $45 each from March 1 through December 31. If the company uses the last-in, first-out inventory costing method, what is the amount of Cost of Goods Sold on the income statement for the year ending December 31? (Assume that the company uses a perpetual inventory system.) $5600 $3600 $4700 $2000