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# \$1.00Unitech has the following inventory inf

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• Due on Feb. 21, 2012
• Asked on Feb 18, 2012 at 4:47:33PM

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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. \$1,420. \$620. \$580.

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