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Sheridan Company uses a periodic inventory system. Details for the inventory account for the month...

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Accounting

Sheridan Company uses a periodic inventory system. Details for the inventory account for the month of January, 2020 are as follows:
Per
Units
Unit Price
Total
Balance, 1/1/20
180
$5.00
$900
Purchase, 1/15/20
150
5.60
840
Purchase, 1/28/20
150
5.50
825
An end of the month (1/31/20) inventory showed that 160 units were on hand. If the company uses FIFO, what is the value of the ending inventory?

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