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Ayayai Corp. has the following inventory data: July 1 Beginning inventory 28 units at $18 $504 7 Purchases 99 units at $19 1881 22 Purchases
Ayayai Corp. has the following inventory data:
July 1 | Beginning inventory | 28 units at $18 | $504 | |||
7 | Purchases | 99 units at $19 | 1881 | |||
22 | Purchases | 14 units at $21 | 294 | |||
$2679 |
A physical count of merchandise inventory on July 30 reveals that there are 45 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is
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