Total $234 7. With the information below, calculate the cost of goods sold for the month of October. The company uses a FIFO perpetual inventory system. The company did not have any beginning inventory. Date Oct. 1 Purchase 5 Purchase 10 Sale of 7 units 15 Purchase 22 Sale of 10 units Units Cost/Unit Total Cost $40 $400 12 $42 504 10 15 $43 645