Apple-A-Day Company has the following inventory data: July 1 Beginning 20 units at $ 400 inventory $20 7 Purchases 70 units at 1,470 $21 22 Purchases 10 units at $22 220 $2,090 A physical count of merchandise inventory on July 30 reveals that there are 25 uni on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is 1) $1,585 2) $1,555. 3) $1,590 4) $1,540.