Question 18 (1 point) We had 10 units of a merchandise item in out beginning inventory which had cost our company $100 each. During the year, we purchased 50 units of this item for $120 each. We sold 35 item during the year. Using FiFO, what is the (1) cost of goods sold and (2) the cost of the ending inventory? O (1) $4,200, (2) $2,800 (1) $4,000, (2) $3,000 (1) $2,800, (2) $4,200 (1) $3,000, (2) $4,000 Some other amount(s)