1. Novak Corp. has the following inventory data:

July 1		Beginning inventory		144 units at $19		$2736
7		Purchases		504 units at $20		10080
22		Purchases		72 units at $22		1584
						$14400

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

$4944.

$4656.

$9744.

$9456.

2. Skysong, Inc. has the following inventory data:

July 1		Beginning Inventory		33 units at $16		$528
7		Purchases		115 units at $17		1955
22		Purchases		16 units at $18		288
						$2771

A physical count of merchandise inventory on July 30 reveals that there are 41 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is

$2058.

$2107.

$1976.

$2033.