Use the following information to answer questions 12 through 14: November 1 Beginning inventory 5 Purchases 14 Sales 21 Purchases 31 Sales 20 units @ $40 60 units @ $42 50 units @ $80 40 units @ $46 28 units @ $85 12. What is cost of goods sold on a perpetual FIFO basis? A. $1,772 B. $1,924 $3,236 D. $3,388 $3,436 C. 13. What is cost of goods sold on a perpetual LIFO basis? A. $1,772 B. $1,924 C. $3,236 $3,388 E. $3,436 D. 14. What is gross profit on a periodic weighted average basis? $1,806 B. $3,026 C. $3,236 D. $3,354 E. $3,388