Sales = $156,745.00 Gross Profit Margin= 13.31% Cost of Goods Sold $20,862.76 $20,862.67 $20,862.86 $20,822.76 Based on the following information, inventory cost on the basis of FIFO method will be $1,265. Units Cost Per Unit Aug Total Cost 1 10 $91 Beginning Inventory 3 Purchased 17 Purchased Total goods and units available for sale 5910 15 20 45 $106 $115 $1,590 $2,300 $4,800 Units Aug 14 Sales 28 Sales Total Goods and Units Sold 20 14 Selling Price Per Unit $133 $150 Total Cost $2,660 $2.100 $4.760 34 Units True False