The LIFO inventory method assumes that the cost of the latest units pruchased are a) the last to be allocated to cost of goods sold b)the first to be allocated to ending inventory c)the first to be allocated to cost of goods sold d)not allocated to cost of goods sold or ending inventory A company just starting business made the following four inventory purchases in June: June 1 150 units $390 June 10 200 units $585 June 15 200 units $630 June 28 150 units $510 $2,115 A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the LIFO method the value of the ending inventory on June 30 is A) $536 b) $668 c)$1,447 d)$1,564