Shane has the following inventory information. Assuming that a perpetual inventory system is used, what is the cost of goods sold on a FIFO basis? - Hint: Cost of goods sold is the amount of inventory that has been sold. Calculate the amount (in \$) of inventory that the company sold during July. \begin{tabular}{l} $12,144 \\ \hline$12,960 \\ \hline$12,908 \\ \hline$12,368 \\ \hline$12,650 \end{tabular}