Suppose that Ivanhoe Trading Post has the following inventory data:

The company uses a periodic inventory system. A physical count of merchandise inventory on July $31$ reveals that there are $40$ units on

hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is

$$2008.$

$$1928.$

$$1984.$

$$2056.$Suppose that Ivanhoe Trading Post has the following inventory data:

The company uses a periodic inventory system. A physical count of merchandise inventory on July $31$ reveals that there are $40$ units on

hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is

$$2008.$

$$1928.$

$$1984.$

$$2056.$