Question: Suppose that Hell's Hardware has the following inventory data: July 1: Beginning Inventory 84 units at $19 $1596 July 7: Purchases 294 units at $20.

Suppose that Hell's Hardware has the following inventory data:

July 1: Beginning Inventory 84 units at $19 $1596

July 7: Purchases 294 units at $20. 5880

July 22: Purchases 42 units at $22. 924

8400

The company uses a periodic inventory system. a physical count of merchandise iventory on July 31 reveals there are 140 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for july is?

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