The inventory records for Radford Company reflected the following Beginning inventory on May 1 First purchase on May 7 Second purchase on May 17 Third purchase on May 23 Sales on 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 What is the amount of cost of goods sold assuming the LIFO cost flow method is used? Multiple Choice $40,240 $40.920 $39,600 $38,280