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

question 173

Essay

A company's inventory records indicate the following data for the month of July:
$$\begin{array} { | l | l | l | } \hline \text { July 1 } & \text { Begining } & 380 \text { units at \$15 each } \\\hline \text { July 5 } & \text { Purchased } & 270 \text { units at \$17 each } \\\hline \text { July 10 } & \text { Sold } & 400 \text { units at \$50 each } \\\hline \text { July 20 } & \text { Purchased } & 300 \text { units at \$22 each } \\\hline \text { July 25 } & \text { Sold } & 400 \text { units at \$50 each } \\\hline\end{array}$$ 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.)

---

Definitions:

Seasonal Funding

Temporary financing used to cover seasonal increases in business expenses or inventory needs.

Cash Flows

The combined total of cash inflows and outflows in a business, essentially affecting its capacity to meet short-term obligations.

Seasonal Sales

Sales fluctuations that occur at certain times of the year, often due to changes in weather, holidays, or other seasonal factors.

Cash Disbursements

The outflow of cash to pay expenses, purchase assets, or repay debts.