Bonita has the following inventory information. July 1 Beginning Inventory 7 Purchases 22 Purchases 20 units at $20 70 units at $21 15 units at $20 $400 1470 300 $2170 A physical count of merchandise inventory on July 31 reveals that there are 40 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is

Bonita has the following inventory information. A physical count of merchandise irventory on July 31 reveals that there are 40 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is