Sheffield has the following inventory information. July 1 Beginning Inventory 15 units at $20 $300 7 Purchases 65 units at $19 1235 22 Purchases 5 units at $25 125 $1660 A physical count of merchandise inventory on July 31 reveals that there are 30 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is CO $1051. O $1026. O $1075. O $1105. Vaughn Company purchased equipment for $11280 on January 1, 2020. The company expects to use the equipment for 4 years. It has no salvage value. Monthly depreciation expense on the asset is O $2820. O $235. O $11280. $0