Multiple Choice Question 67 Cheyenne Corp. just began business and made the following four inventory purchases in June: June 1 132 units $920 June 10 176 units 1370 June 15 176 units 1480 June 28 132 units 1160 $4930 A physical count of merchandise inventory on June 30 reveals that there are 180 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for June is $1324. $1160. $1564. $1255