Previous Page Next Page Page 2 of 6 Question 2 (0.5 points) Sterling Company has the following inventory data: May 1 Beginning inventory 24 units at $15 $360 5 Purchases 84 units at $16 1,344 24 Purchases 12 units at $18 216 $1,920 A physical count of merchandise inventory on May 31 reveals that there are 38 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for May is $570 $632 $584 $684