Use the following information for the month of May. May 1 7 Beginning inventory 20 units @ $19 Purchases 70 units @ $20 18 Sales 25 units 22 Purchases 50 units @ $22 29 Sales 5 units Assuming that a perpetual inventory system is used, what is Cost of Goods Sold on a LIFO basis? Select one: O a. $610 O b. $680 Oc. $660 O d. $570 O e. $600