Question: Kingbird, Inc. has the following inventory data: July 1 Beginning inventory 46 units at $23 $1058 7 Purchases 160 units at $24 3840 22 Purchases

Kingbird, Inc. has the following inventory data: July 1 Beginning inventory 46 units at $23 $1058 7 Purchases 160 units at $24 3840 22 Purchases 23 units at $25 575 $5473 A physical count of merchandise inventory on July 30 reveals that there are 57 units on hand. Using the LIFO inventory method, the amount allocated to the cost of goods sold for July is $4048. $3968. $4082. $4151

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