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Vaughn has the following inventory information. A physical count of merchandise inventory on July 3 1 reveals that there are 3 5 units on hand.

Vaughn has the following inventory information.
A physical count of merchandise inventory on July 31 reveals that there are 35 units on hand. Using the LIFO inventory method, the
amount allocated to cost of goods sold for July is
$1225.
$1195.
$1170.
$1260.
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