Classic Floors has the following inventory data: 
Assuming that a perpetual inventory system is used, what is the cost of goods sold on a LIFO basis for July?
Definitions:
Risk Premium
The extra return above the risk-free rate demanded by investors for holding a risky asset.
Fire Insurance
A type of property insurance that covers damage and losses caused by fire, providing financial compensation to the insured.
Utility Function
A formula used to quantify the satisfaction consumers derive from consuming various goods and services.
Risk Behaviors
Actions that expose individuals to a significant risk of harm or loss, often scrutinized in health, finance, and safety studies.
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