Strods Company reported the following purchases and sales of Its only product. Strods uses a periodic inventory system. Determine the cost assigned to cost of goods sold using FIFO. Units Acquired at Cost 160 units $11 Units Sold at Retail Activities Date Beginning Inventory May 1 225 units e 13 Purchase 145 units e $21 10 Sales 105 units e $14 15 Purchase 95 units e $22 Sales 24 Multiple Choice