A Company's Inventory Records Indicate the Following Data for the Month

question 92

Essay

A company's inventory records indicate the following data for the month of July:
$$\begin{array} { | l | l | l | } \hline \text { July 1 } & \text { Beginning } & 380 \text { units at } \$ 15 \text { each } \\\hline \text { July 5 } & \text { Purchased } & 270 \text { units at } \$ 17 \text { each } \\\hline \text { July 10 } & \text { Sold } & 400 \text { units at } \$ 50 \text { each } \\\hline \text { July 20 } & \text { Purchased } & 300 \text { units at } \$ 22 \text { each } \\\hline \text { July 25 } & \text { Sold } & 400 \text { units at } \$ 50 \text { each } \\\hline\end{array}$$
If the company uses the weighted average inventory valuation method and the perpetual inventory system,what would be the cost of its ending inventory? (Round average cost per unit to 2 decimals,and final answer to the nearest dollar.)

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Definitions:

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