Question: Entity C has the following inventory data: Date Units Unit Cost Total Cost July 1 (Beg Inv.) 20 19 $380 7 Purchase 70 20 1.400

Entity C has the following inventory data: Date Units Unit Cost Total Cost July 1 (Beg Inv.) 20 19 $380 7 Purchase 70 20 1.400 22 Purchase 10 22 220 Total 100 $2,000 A physical count of merchandise inventory on July 30 reveals that there are 40 units on hand (ending inventory). Using the periodic LIFO inventory valuation method, the amount allocated to cost of goods sold for Jullis $780 $820 $1180 $1220

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