The inventory records for Radford Co. reflected the following Beginning inventory @ May 1 First purchase @ May 7 second purchase @ May 17 Third purchase @ May 23 Sales @ May 31 2,100 units @ $5.80 2,200 units @ $6.00 2,400 units @ $6.10 2,000 units @ $6.20 6,600 units @ $7.70 Determine the amount of cost of goods sold assuming the LIFO cost flow method. Multiple Choice $40,240 Multiple Choice $40, 240 $40,920 $38,280 $39,600