Sheridan has the following inventory data: 3 July 1 Beginning inventory 42 units at $101 252 units at $94 5 Purchases 14 Sale 168 units 21 Purchases 126 units at $97 30 Sale 118 units Assuming that a periodic inventory system is used, what is the cost of goods sold on a FIFO basis? O $27178 O $27262 O $12890 O $12974