At the beginning of July, Travelers' Favorite Luggage holds 15 units of its only product with a per-unit cost of $560. During July, Travelers' Favorite sells 40 units. A summary of purchases during the current period follows:

Beginning inventory15 units at $560

First purchase30 units at $620

Second purchase15 units at $640

Third purchase20 units at $660

Assume that Travelers' Favorite utilizes the LIFO method.