During July, the following purchases and sales were made by Sheridan Company. There was no beginning inventory. Sheridan Company uses a perpetual inventory system. Purchases Sales July 3 40 units @ $8 July 13 64 units 11 40 units @ $9 22 15 units 20 15 units @ $10 Under the FIFO method, the cost of goods sold for each sale is: July 13 July 22 $536 $135 $640 $150 o $576 $135 $526 $120