Using LIFO, what is gross margin?

Date	Source	Units Purchased	Cost Per Unit	Total Cost
1/1/2011	Beginning Inventory	1000	$25	$25,000
2/1/2011	Purchase	700	$23	$16,100
3/1/2011	Purchase	1,500	$20	$30,000

Total Goods Available for Sale	3,200		$71,100
Units sold	2300	$40

Group of answer choices

$69,500

$43,400

$38,900

$40,897