Question 22 (2 points) Heavy Inc. uses the FIFO cost formula in a periodic inventory system. Below is the inventory record in July, 2021. Jul 1 Beginning inventory 20 units @ $19 per unit Jul 7 Purchases 70 units @ $20 per unit Jul 8 Sales 50 units @ $30 per unit Jul 9 Sales Jul 10 Purchases 25 units @ $31 per unit 50 units @ $22 per unit Jul 22 Sales 40 units @ $28 per unit Total cost of goods sold for the month of July is $2,330. $2.530. $2,830. $2,880.