Inventory Costing Methods-Perpetual Method The Lippert Company uses the perpetual inventory system. The following July data are for an item in Lippert's inventory: July 1 Beginning inventory 930 units @ $15 per unit 10 Purchased 950 units @ $16 per unit 15 Sold 960 units @ 26 Purchased 925 units @ $17 per unit Calculate the cost of goods sold for the July 15 sale using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods. Round your final answers to the nearest dollar. For weighted-average cost, do not round the weighted-average unit cost. A. First-in, First-out: Cost of Goods Sold: $ 14,430 B. Last-in, first-out: Cost of Goods Sold $ 16,285 x C. Weighted-average cost: Cost of Goods Sold $ 15,360 x