Use This Information to Answer the Following Question A Periodic Inventory System Is Used; Ending Inventory Is 140

Multiple Choice

Use this information to answer the following question. $\begin{array}{ll}\text { Beginning inventory } & 100 \text { units @ } \$ 8.00 \\\text { Purchase-Oct. } & 200 \text { units } \$ \$ .00 \\\text { Purchase-Dec. } & 100 \text { units } \$ 12.00\end{array}$ A periodic inventory system is used; ending inventory is 140 units.
What is cost of goods sold under FIFO?

A) $1,760
B) $3,160
C) $2,160
D) $4,160