LO3. In March, Holly Company had the following transactions affecting inventory during March. March 1 Beg. Balance 500 units @ $10.00 March 5 Sale 300 units March 10 Purchase 300 units @ $11.00 March 20 Sale 350 units March 30 Purchase 200 units @ $12.00 13 Compute cost of goods sold under Perpetual Inventory System using LIFO assumption. a) $6,650 b) $6,800 c) $6,710 d) $7,200 e) $6,955