Tristan, Inc., uses the LIFO cost-flow assumption to value inventory. It began the current year with 1,300 units of inventory carried at LIFO cost of $56 per unit. During the first quarter, it purchased 5,150 units at an average cost of $86 per unit and sold 5,600 units at $130 per unit.

Assume the company expects to replace the units of beginning inventory sold in April at a cost of $88 per unit and expects inventory at year-end to be between 1,500 and 2,000 units. What amount of cost of goods sold should be recorded for the quarter ended March 31?

Multiple Choice

• $482,500.

• $481,600.

• $492,800.

• $468,100.