The Palmer Corporation buys 300 units of merchandise in January at $4 each. Palmer buys 500 units at $5 each in February and 200 units at $6 each in March. Palmer sells 700 units during this quarter. Palmer uses the weighted-average method under periodic inventory assumption. What is its cost of goods sold for the quarter? (Assume zero items in the beginning inventory)

		$3,700.
		$3,200.
		$4,900.
		$3,430.