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32. When prices increase, cost of ending inventory under FIFO is less than cost of ending inventory under LIFO * 36. Santa Fe Tile Company had the following inventory purchases and sales during the month of May. The company uses the perpetual inventory method and FIFO. The company sells each unit for $12. Purchases Units Unit Price 100 200 $4 $5 Sales Date Units 5/1/2009 5/5/2009 5/10/2009 100 5/15/2009 5/20/2009 5/25/2009 200 5/30/2009 5/30/2009 100 150 $6 $7 160 167 $8 $8.2 What is cost of goods sold on 25th of May? *