A Company Made the Following Merchandise Purchases and Sales During

question 55

Essay

A company made the following merchandise purchases and sales during the month of July:
$\begin{array}{|l|l|l|l|}\hline\text { July 1 purchased } & 380 & \text { units at } & \$ 15 \text { each } \\\hline \text { July 5 purchased } & 270 & \text { units at } & \$ 20 \text { each } \\\hline \text { July 9 sold } & 500 & \text { units at } & \$ 55 \text { each } \\\hline \text { July 14 purchased } & 300 & \text { units at } & \$ 24 \text { each } \\\hline \text { July 20 sold } & 250 & \text { units at } & \$ 55 \text { each } \\\hline \text { July 30 purchased } & 250 & \text { units at } & \$ 30 \text { each }\\\hline\end{array}$


There was no beginning inventory.If the company uses the first-in,first-out perpetual inventory method,what would be the cost of the ending inventory?

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