A physical count of merchandise inventory on July 31 reveals that there are w units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is a. $1,390 b. $1,414 c. $1,470 d. $1,440 A physical count of merchandise inventory on July 31 reveals that there are 30 units on hand. Using the average-cost method, the value of ending inventory is a. $585. b. $606. c. $630. d. $660. A physical count of merchandise inventory on July 31 reveals that there are 30 units on hand. Using the average-cost method, the amount allocated to cost of goods sold for July is a. $1,380. b. $1,414 c. $1,470. d. $1,440