Heiner Company began business on July 1, 2022 and made the following four inventory purchases in July: Units Unit Total Purchased Cost Cost July 1 150 units $5.20 $ 780 July 10 200 units $5.85 1,170 July 15 200 units $6.30 1,260 July 28 150 units $6.60 990 $4,200 A physical count of inventory on July 31 reveals that there are 200 units on hand. Using the LIFO inventory method, calculate the Cost of Goods Sold for Jul
Heiner Company began business on July 1, 2022 and made the following four inventory purchases in July:
Units Unit Total
Purchased Cost Cost
July 1 150 units $5.20 $ 780
July 10 200 units $5.85 1,170
July 15 200 units $6.30 1,260
July 28 150 units $6.60 990
$4,200
A physical count of inventory on July 31 reveals that there are 200 units on hand. Using the LIFO inventory method, calculate the Cost of Goods Sold for July. (Include two decimal places in your answer; do not include a $ sign)
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