Question: ABC has the following inventory information: July 1 Beginning Inventory 2 0 units at $ 1 9 each $ 3 8 0 July 7 Purchases

ABC has the following inventory information:
July 1 Beginning Inventory 20 units at $19 each $380
July 7 Purchases 70 units at $20 each 1,400
July 22 Purchases 10 units at $24 each 240
A physical count of merchandise inventory on July 31 reveals that there are 30 units on hand. Using the LIFO costing method under the periodic inventory system, the cost of ending merchandise inventory in July is:
Group of answer choices
$606
$1440
$580
$640
$1380

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