Sheridan company has the following inventory data: july 1 beginning inventory 25 units at $16 $400 7 purchases 88 units at $17 1496 22 purchases 13 units at $18 234 $2130 a physical count of merchandise inventory on july 30 reveals that there are 40 units on hand. using the lifo inventory method, the amount allocated to cost of goods sold for july is

An allergy products superstore buys 6000 of their most popular model of air filters each year. the price of the air filters is $18. the cost of ordering and receiving shipments is $12 per order. accounting estimates annual carrying costs are 20% of the price. the supplier lead time is 2 days. the store operates 240 days per year. each order is received from the supplier in a single delivery. there are no quantity discounts. what is the store’s minimum total annual cost of placing orders & carrying inventory?