The Inventory Record for a Particular Item for Year 2

Multiple Choice

The inventory record for a particular item for Year 2 appears below.
$\begin{array}{|l|l|l|l|}\hline \text { Inventory, January 1, Year 2 } & 20,000 & \$ 0.20 & \$ 4,000 \\\hline \text { Purchases: } & & & \\\hline \text { March 2 } & 4,000 & .24 & \$ 960 \\\hline \text { April 30 } & 3,000 & .28 & 840 \\\hline \text { June 15 } & 6,000 & .32 & 1,920 \\\hline \text { September 30 } & 2,000 & .26 & 520 \\\hline \text { December } 15 & 1.000 & .20 & 200 \\\hline \text { Total purchases } & 16.000 & & \$ 4,440 \\\hline \text { Total available for sale } & 36,000 & & \$ 8,440 \\\hline \text { Units sold } & 28,000 & & \\\hline\end{array}$ Refer to the Inventory Record example.The cost of goods sold for year 2 under FIFO is:

A) $6,040
B) $6,120
C) $6,320
D) $6,520
E) $6,840