Sheffield Corp. has the following inventory data: 32 units at $20 $640 Beginning July 1 inventory 7 Purchases 22 Purchases 111 units at $21 16 units at $23 2,331 368 $3,339 A physical count of merchandise inventory on July 30 reveals that there are 51 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for July is $1,071. $1,173. w $1,039