Nash's LLC has the following inventory data: Nov. 1 Inventory 22 units @ $4.40 each 8 Purchase 89 units @$4.75 each 17 Purchase 44 units @ $4.65 each 25 Purchase 67 units @ $4.90 each A physical count of merchandise inventory on November 30 reveals that there are 74 units on hand. Assuming that the specific identification method is used and that ending inventory consists of 22 units from each of the three purchases and 8 units from the November 1 inventory cost of goods sold is $671 $698 $57 $703 At May 1, 2022, Concord Corporation had beginning inventory consisting of 240 units with a unit cost of $5. During May, the company purchased inventory as follows: *480 units at $6 - 720 units at $7 The company sold 1200 units during the month for $10 per unit. Concord Corporation uses the average cost method. The value of Concord Corporation's inventory at May 31, 2022 is (Round average cost per unit to 2 decimal places, e.g. 12.52.) $9120 $1680. $1560 $1200