Ace Inc. has the following inventory data: July 1 Beginning inventory 40 units at $20 $ 800 7 PurchasesAce Inc. has the following inventory data:

July 1 Beginning inventory 40 units at $20 $ 800

7 Purchases 140 units at $21 2,940

22 Purchases 20 units at $22 440

$4,180

The company uses a periodic inventory system. A physical count of merchandise inventory on July 31 reveals that there are 50 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is

• A.

$3,110.

• B.

$3,170.

• C.

$3,080.

• D.

$3,010.