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Multiple Choice Question 106 Transactions for the month of June were: Purchases...

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Accounting

Multiple Choice Question 106

Transactions for the month of June were:

Purchases Sales
June 1 (balance) 3210 @ $3.10 June 2 2410 @ $5.30
3 8880 @ 3.00 6 6350 @ 5.30
7 4890 @ 3.20 9 4000 @ 5.30
15 7250 @ 3.30 10 1510 @ 5
22 2020 @ 3.40 18 5520 @ 5
25 780 @ 5

Assuming that periodic inventory records are kept in units only, the ending inventory on an average-cost basis, rounded to the nearest dollar, is

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