The Brentwood Company sells blankets for $60 each. The following was taken from the inventory records during May. The company sold 20 blankets in the month of May. May 5 10 units @ $30, May 12 20 units @ $35, and May 30 20 units @$40. Assuming that the company uses the periodic inventory system, determine the Cost of Goods Sold using the FIFO inventory cost method.