Question: PLEASE PROVIDE ME WITH AN EXPLANATION, ANSWER 84 ONLY Use the following inventory information for the month of July to answer questions 83-84 July 1

PLEASE PROVIDE ME WITH AN EXPLANATION, ANSWER 84 ONLY

Use the following inventory information for the month of July to answer questions 83-84 July 1 Beginning inventory July 7 Purchases July 22 Purchases 20 units at $19 70 units at $20 10 units at $22 $ 380 1,400 220 $2,000 A physical count of inventory on July 30 reveals that there are 35 units on hand. 83. Using the average cost method, the value of ending inventory is: a. $700. b. $711.67. c. $1,300. d. $1,321.67. 84. Using the FIFO inventory method, the amount allocated to cost of sales for July is: a. $680. b. $720. c. $1,280. d. $1,320

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