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 31 700 units @ $3.00 800 units @ $3.20 1,000 units @ $3.30 600 units @ $3.40 2,400 units @ $4.90 What is the amount of cost of goods sold assuming the LIFO cost flow method is used? Multiple Choice $7,680 $7,200 $8,160 $7,900