Use the following inventory information for the month of July to answer the next 5 questions (Questions 16-20): July 1 Beg. Inventory 20 units at a cost of $19 each July 4 Sold July 7 Purchased 10 units at a selling price of $100 each 70 units at a cost of $20 each 60 units at a selling price of $100 each 10 units at a cost of $22 each July 10 Sold July 22 Purchased There were no units lost or stolen during July. The company uses the periodic method for inventory. Using the FIFO inventory method, the amount of ending inventory for July is: O $580 O $620 O $600 O $570 None of the answers are correct. Using the LIFO inventory method, the amount of ending inventory for July is: $580 $610 $600 $570 O None of the answers are correct. Using the FIFO inventory method, the amount of cost of goods sold for July is: $580 $620 $1,380 $1,420 None of the answers are correct. Using the LIFO inventory method, the amount of cost of goods sold for July is: $580 O $620 $1,380 $1,420 O None of the answers are correct. Using the Average Cost inventory method, the amount of cost of goods sold for July is: $600 O $1,400 O $1,380 O $1,420 None of the answers are correct