Units Sold at Retail Units Acquired at Cost 700 units @ $36 = $25,200 580 units @ $40 $23,200 Date April 1 April 7 April 11 April 16 April 22 April 29 Activities Beginning inventory Purchase Sale Purchase Sale Purchase 1,000 units @ $110 500 units @ $44 = $22,000 400 units @ $110 480 units @ $50 $24,000 If the company uses the first-in, first-out (FIFO) method and the perpetual inventory system, what is the value of cost of goods sold? Multiple Choice $40,720 $57,600. 0 $36,800 $53,680. $16,480