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Concord Corporation has the following inventory data: July 1 7 22 Beginning inventory Purchases Purchases 32 units at $16 112 units at $17 16 units

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Concord Corporation has the following inventory data: July 1 7 22 Beginning inventory Purchases Purchases 32 units at $16 112 units at $17 16 units at $18 $512 1904 288 $2704 A physical count of merchandise inventory on July 30 reveals that there are 40 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is O $2008. $1984. $2056 O $1928

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