Saved Help Save & Exit TB MC Qu. 05-116 (Algo) Grays Company has... Grays Company has the following purchases and sales during the month of August. Using the FIFO perpetual inventory method, what amount will be reported as cost of goods sold for the 12 units that were sold? es Date August 1 Activities Units Acquired at Cost Units Sold at Retail August 3 August 6 Beginning inventory Purchase Sales 10 units $14 - $140 20 units $16 - $320 12 units sold Multiple Choice O C $172. $160 $174. A