Current Attempt in Progress Suppose that Pharoah has the following inventory data: Nov. 1 Inventory 10 units @ $5 each 8 Purchase 100 units @ $5.45 each 17 Purchase 60 units @ $5.30 each 25 Purchase 80 units @ $5.60 each The company uses a periodic inventory system. A physical count of merchandise inventory on November 30 reveals that there are 90 units on hand. Cost of goods sold under FIFO is O $501. O $1039. O $860. O $486.