Purchases Quantity Price Qty x Price Purchase 1 100 $10 $1,000 Purchase 2 200 $11 $2,200 Purchase 3 100 $12 $1,200 Purchase 4 300 $14 $4,200 TOTAL 700 $8,600 Sales Quantity Sale 1 150 Using the information shown above, what is the Cost of Goods Sold using the FIFO method? Assume that the inventory balance before the first purchase was zero. Select one: O a. $1,550 0 b. $1,750 O c. $1,450 O d. $1,564