(Answered) Problem - unitech has the following inventory

Accounting

Problem - Unitech has the following inventory information.

July 1	Beginning Inventory	20 units at $19	$380
7	Purchases	70 units at $20	1,400
22	Purchases	10 units at $22	220
			$2,000

A physical count of merchandise inventory on July 31 reveals that there are 30 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is

$1,380.

$620.

$580.

$1,420.

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