Sales during the year were 500 units. Beginning inventory was 250 units at a cost of $5 per unit. Purchase 1 was 400 units at $6 per unit. Purchase 2 was 200 units at $7 per unit.

Cost of goods sold under the FIFO cost flow assumption (using a periodic inventory system) was:

$3,650

$2,750

$3,200

$2,300