Glasgow Enterprises started the period with 65 units in beginning inventory that cost $2.60 each. During the period, the company purchased inventory items as follows:
Purchase 1: 300 items at $3.10 each
Purchase 2: 200 items at $3.20 each
Purchase 3: 55 items at $3.60 each
Glasgow sold 325 units after Purchase 3. Glasgow's cost of goods sold under FIFO would be:
a) $945
b) $964
c) $1,012
d) $1,035