Letty Company has the following inventory data: July 1 Inventory 20 units at $19=$380 July 7 Purchases 70 units at $20=$1,400 July 22 Purchases 10 units at $22=$220 $2,000 A physical count of merchandise inventory on July 30 reveals that there are 60 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is 1) $970 2$1,450 3) $820 4) $1190