3. Use the following inventory information for the month of July to answer the following questions. July 1 7 22 Beginning inventory 20 units at $19 Purchases 70 units at $20 Purchases 10 units at $22 $ 380 1,400 220 $2,000 A physical count of merchandise inventory on July 30 reveals that there are 30 units on hand. a. Using the average cost method, the value of inventory is $580 b. $600 $610 d. $620 c. a. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is $580 b. $620 $1,380 d. $1,420 a. Using the FIFO inventory method, the amount allocated to ending inventory for July is $580 b. $620 600 d. $570 C. a. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is $580 b. 20 $1,380 d. $1,420 C. a. Using the LIFO inventory method, the amount allocated to ending inventory for July is $580 b. $610 $600 d. $570 C