Sandhill Company began business in June and made the following four inventory purchases: The company uses a periodic inventory system. A physical count of merchandise inventory on June 30 reveals that there are 248 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for June is $2182 $2155 51720 $1777 Assume that Sandhill Inc. has the following inventory data: Assuming that a periodic inventory system is used, what is the cost of goods sold on a LIFO basis? $32659 $17003 $32653 $16997