$[$The following information applies to the questions

displayed below.$]$A company began $2024$ with $20,000$ units of inventory on hand. The

cost of each unit was $$4\mathrm{.}00.$ During $2024,$ an additional $40,000$

units were purchased at a single unit cost, and $30,000$ units

remained on hand at the end of $2024(30,000$ units therefore were

sold during $2024).$ The company uses a periodic inventory system.

Cost of goods sold for $2024,$ applying the average cost method, is

$$129,000.$ The company is interested in determining what cost of

goods sold would have been if the FIFO or LIFO methods were

used.Required:$1.$Determine the cost of goods sold for

$2024$ using the FIFO method. $[$Hint:Determine the cost

per unit of $2024$ purchases.$]$