Trumpeting Trumpets has the following inventory data: July 1 5 14 21 30 Beginning inventory Purchases Sale Purchases Sale 42 units at $101 252 units at $94 168 units 126 units at $97 118 units Assuming that a periodic inventory system is used, what is the cost of goods sold on a FIFO basis? $27178 $12974 $12890 $27262