Wigan plc had 400 calculators in inventory at 1 January 20X7 that had cost 36 each. Purchases and sales of calculators during the year to 31 December 20X7 were as follows: Purchases Date 31 January 1 April 10 June 14 October 200 @ 40 200 @ 44 Sales 300 @ 56 200 @ 64 What is the cost of goods sold (COGS) for the year ending at 31 December 20X7 under the FIFO (First-in-first-out) method (assume periodic tracking of inventory)?