Knowledge Check 01 Intercontinental, Inc., uses a perpetual inventory system. Consider the following information about its inventory: July 1, purchased 10 units for $910 or $91 per unit: July 3, purchased 15 units for $1,590 or $106 per unit: July 14, sold 20 units: July 17. purchased 20 units for $2,300 or $115 per unit: July 28, purchased 10 units for $1190 or $119 per unit; July 31, sold 23 units. Using LIFO, the cost of goods sold for the sale of 23 units on July 31 is ___ and the inventory balance at July 31 is Cost of goods sold Inventory balance 29 29 30 30 of 30