A company made the following merchandise purchases and sales during the month of July: 1-Jul units @ $15 each purchased 400 purchased 300 5-Jul units @ $16 each 9-Jul sold 550 units @ $25 each 14-Jul purchased 200 units @ $18 each 20-Jul sold 100 units @ $25 each 30-Jul purchased 400 units @ $17 each There was no beginning inventory. If the company uses the last-in, first-out (LIFO) method and the perpetual system, what would be the cost of the ending inventory and the total cost of goods sold? 7 A BI U - IE Goods Purchased Cost of Goods Sold Inventory Balance Date