RJ Corporation has provided the following information about one of its inventory items:

Date	Transaction	Number of Units				Cost per Unit
1/1	Beginning Inventory		422			$	3,420
6/6	Purchase		822			$	3,710
9/10	Purchase		1,235			$	4,220
11/15	Purchase		822			$	4,355

During the year, RJ sold 2,995 units.

What was cost of goods sold using the LIFO cost flow assumption under a periodic inventory system?

$11,951,740.

$12,147,850.

$12,052,920.

$12,237,850.