Oriole has the following inventory data: July 1 Beginning inventory 5 Purchases 14 Sale 21 Purchases 30 Sale 56 units at $134 336 units at $125 224 units 168 units at $129 157 units Assuming that a periodic inventory system is used, what is the cost of goods sold on a FIFO basis? $22879 $48129 $23047 $48297