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A Company Made the Following Merchandise Purchases and Sales During

Question 143

Essay

A company made the following merchandise purchases and sales during the current month:
 July 1 purchased 380 units at $15 each  July 5 purchased 270 units at $20 each  July 9 sold 500 units at $55 each  July 14 purchased 300 units at $24 each  July 20 sold 250 units at $55 each  July 30 purchased 250 units at $30 each \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 last-in,first-out perpetual inventory system,what would be the cost of the ending inventory?

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