November 1 Beginning inventory 5 Purchases 14 Sales 21 Purchases 30 Sales 20 units @ $40 60 units @ $42 50 units @ $80 40 units @ $46 28 units @ $85 What is cost of goods sold on a perpetual FIFO basis? A. $1,772 B. $1,924 $3,236 D. $3,388 E. $3,436 c. What is gross profit on a perpetual LIFO basis? A. $2,944 $2,992 C. $3,144 D. $4, 456 E. B $4,608