Wally's Wallet World opened for business on Jan. 1, 2016. During 2016 he purchased the following: Jan. 1 90 units @ $60 = $ 5400 May 1 110 units @ $70 = $ 7700 Nov.1 100 units @ $80 = $ 8000 A physical count of the inventory on Dec. 31, 2016 showed that 130 wallets remained in inventory. REQUIRED: Calculate Cost of Goods Sold under. A) FIFO B) LIFO C) Average Cost