Question 50 (1 point) Sloe Harding Systems, Incorporated uses a periodic inventory system. The purchases of a particular product during the year are shown below: January 1 February t July 10 November 25 At December 31 the ending inventory consisted of 1,500 units. Assume the company uses the LIFO method. What is the cost of goods sold for the current year? Beginning inventory Purchase Purchase Purchase Total 1,100 1,450 1,600 1,900 5,150 units @ $ f.25 units @ $ f.50 units @ $ 8.00 units @ $ 6.50 10, 12