Crane Inc. uses the FIFO cost formula in a perpetual inventory system. July 1 Beginning inventory 22 units @ $21 per unit July 7 Purchases 72 units @ $22 per unit July 8 Sales July 9 Sales 52 units 27 units July 10 Purchases 52 units @ $24 per unit July 22 Sales 42 units Ending inventory at July 31 is $776. $736. $600. $2692.