Return to ques Knowleage Check UI The inventory transactions of Green Products Inc.are shown below. Date Transaction Jan. 1 Beginning inventory May 15 Purchase Jun. 10 Purchase Oct. 25 Purchase Number of Unit Units Cost 500 $5 1,000 500 2,000 Units sold during the year: 3,000 What is the amount of cost of goods sold that Green Products will report in its income statement for the current year, if it uses the first-in, first-out cost method? Multiple Choice O $5,500 O $8.000