Suppose that Cullumber has the following inventory data:

$\backslash$table$[[$Nov$.1,$Inventory,$20$ units @ $$7$ each$],[8,$Purchase,$100$ units @ $$7\mathrm{.}45$ each$],[17,$Purchase,$50$ units @ $$7\mathrm{.}30$ each$],[25,$Purchase,$80$ units @ $$7\mathrm{.}60$ each$]]$

The company uses a periodic inventory system. A physical count of merchandise inventory on November $30$ reveals that there are $90$ units on hand. Cost of goods sold under FIFO is

$$1271.$

$$662.$

$$681.$

$$1177.$