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Novak has the following inventory data: July 1 Beginning inventory 7 Purchases 22 Purchases 49 units at $24 $1176 171 units at $26 4446 24

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Novak has the following inventory data: July 1 Beginning inventory 7 Purchases 22 Purchases 49 units at $24 $1176 171 units at $26 4446 24 units at $27 648 $6270 A physical count of merchandise inventory on July 30 reveals that there are 61 units on hand. Using the LIFO inventory method, the amount allocated to ending inventory for July is O $1610. O $1647. $1488. $1464

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