The company Emm&Emm uses a perpetual inventory system to generate product usage at each sale. Below are the printed movements of the company's inventory account. The company uses the average cost method to calculate the inventory flow. Day Description Amount Unit price total 01.10.23 Inventory status 10 20.00 200 ISK 02.10.23 Product purchase 60 22.00 ISK 1,320 03.10.23 Product sales 20 48.00 960 ISK 16.10.23 Product sales 30 48.00 ISK 1,440 17.10.23 Product purchase 40 22.00 880 ISK 25.10.23 Product sales 10 48.00 480 ISK What was the cost of goods sold (COGS) on October 16