On January 15, 2020 Jenny started a small business buying and selling hand sanitizers. She invested $40,000 in the business and during the next six months, the following transactions occurred. Date of purchases Sanitizers purchased (units) Total cost $ Date of issues Sales (Units) Total value $ January 15 200 7,200 February 8 400 15,000 February 10 500 22,000 March 11 600 24,000 April 12 400 17,000 April 20 600 27,000 June 15 500 22,000 June 25 400 20,000 Using the FIFO method, determine the total purchases over the six-month period (CLO 3) a) $125,200 b) $26,250 c) $85,200 d) $40,000