1. Novak Corp has the following data:

July 1 beginning inventory 144 units @ $19 $2736

July 7 Purchases 504 units @ $20 $10080

July 22 Purchases 72 units @ $22 $1584

Total: $14400

A physical count of merchandise inventory on July 30 reveals that there are 240 units on hand. USING FIFO inventory method, the amount allocated to cost of goods sold for July is??

2. Novak Corp has the following data:

July 1 beginning inventory 72 units @ $19 $1368

July 7 Purchases 252 units @ $20 $5040

July 22 Purchases 36 units @ $22 $792

Total: $7200

A physical count of merchandise inventory on July 30 reveals that there are 120 units on hand. USING LIFO inventory method, the amount allocated to cost of goods sold for July is??