Question $21$

Our company had the following balances and transactions dufing the current year related to merchandise inventory.

$\backslash$table$[[$Beginning merchandise inventory on January $1,120$ units at $$70$ per unit$],[$Purchase on February $14,100$ units at $$85$ per unit$],[$Sale on August $21,150$ units$]]$

What would be the company's cost of goods sold in dollars on December $31$ if the company used perpetual, last in$,$ fir $($LIFO$)$ method?

$$4,900$

$$5,950$

$$10,950$

$$12\mathrm{.}000$