Required information The following information applies to the questions displayod below: A company began 2024 with 14.000 units of irventory on hand. The cost of each unit was $4.00. During 2024, an additional 34,000 units were purchased at a single unit cost. and 24.000 units remained on hand at the end of 2024 (24.000 units therefore were sold during 2024). The company uses a perfodic inventory system. Cost of good5 50 id for 2024, applying the average cost method, is $136,800. The company is interested in determining what cost of goods sold would have been if the flfo or tifO methods were used. Required: 1. Determine the cost of goods sold for 2024 using the FIFO method. [Hint Determine the cost per unit of 2024 purchiases) Note: Do not round intermediate calculotions