Pelham Inc. had the following transactions for August:On August 1 it purchased 2 inventory items for $4 each.On August 10 it purchased 3 inventory items for $3.75 each.On August 15, 2015, it sold 1 item for $8 each.On August 20 it purchased 3 more inventory items for $4.25 each.On August 25 it sold 3 items for $8.20 each.Calculate the Cost of Goods available for sale using FIFO. a. $32 b. $15.50 c. $16.75 d. $32.60