Question 11 (2 points) Niles Co. has the following data related to an item of inventory: Inventory, March 1200 units @ $2.10 Purchase, March 7700 units @ $2.20 Purchase, March 16140 units @ $2.25 Inventory, March 31260 units The value assigned to cost of goods sold if Niles uses FIFO is: $552. $580. $1,696. $1,724