The activity for a specific inventory item for the month of March was as follows: #of Per Unit Total Units Cost Cost October 1 inventory 30 $28 $840 Purchases: October 5 100 30 3,000 October 13 60 1,92 October 15 36 3.240 Goods Available for Sale 280 $9.000 Sales October 8 110 October 22 120 230 Using first-in, first-out (FIFO) under a periodic inventory system, what is the balance of Cost of Goods Sold for month ended October 31 Assuming physical count indicates that the ending balance of Inventory is $1,680. $7,280 $7,300 $7,320 $7,360