Use the following to answer questions 5-7: A companv iust starting business made the following four inventory purchases in June: A physical count of merchandise inventory on June 30 reveals that there 5. Using the LIFO inventory method, the value of the ending inventory on June 30 is A) $536. B) $653. C) $1,447. D) $1,564. 6. Using the FIFO inventory method, the amount allocated to cost of goods sold for June is A) $653. B) $1,272. C) $1,447 D) $1,564. 7. Using the average-cost method, the amount allocated to the ending inventory on June 30 is A) $2,100. B) $1,500. C) $575. D) $600