Thorin Corp. began operations in 2017. It is a merchandiser of a single item - Product Q and uses the Periodic Inventory method. The following relates to purchases of Product Q during 2017: Date Units Cost Per Unit Total Cost 1/02/17 400 $12 $4,800 $6,000 1/16/17 300 $20 3/18/17 600 $24 $14,400 6/25/17 300 $28 10/16/17 300 $32 $8,400 $9,600 $3,600 $46,8000 12/16/17 100 $36 Goods available for sale 2,000 At 12/31/17, a physical inventory indicted 420 units of Product Q on hand. Assuming the LIFO method, cost of goods sold should be reported in the 12/31/17 income statement at: $33,040 $36,972 $41,600 $41,760