During July, the following purchases and sales were made by Coronado Company. There was no beginning inventory. Coronado Company uses a perpetual inventory system. July 3 11 20 July 13 Purchases O 40 units @ $16 July 13 68 units 40 units @ $17 10 units @ $18 Under the FIFO method, the cost of goods sold for each sale is: $1156 O $1224 $1106 $1116 July 22 $170 $180 Sales $160 $170 22 10 units

During July, the following purchases and sales were made by Coronado Company. There was no beginning inventory. Coronado Company uses a perpetual inventory system. Under the FIFO method, the cost of goods sold for each sale is: July 13 July 22 $1156$170 $1224$180 $1106$160 $1116$170