Towing Company employs a periodic inventory system and sells its inventoryto customers for $34 per unit. Towing Company had the following inventoryinformation available for the month of May:May 1 Beginning inventory 2,200 units @ $17 cost per unitMay 8 Sold 1,700 unitsMay 13 Purchased 1,800 units @ $13 cost per unitMay 18 Sold 1,600 unitsMay 21 Purchased 1,300 units @ $23 cost per unitMay 22 Purchased 1,100 units @ $15 cost per unit May 28 Sold 1,300 unitsMay 30 Purchased 1,600 units @ $10 cost per unitDuring May, Towing Company reported operating expenses of $49,000 and hadan income tax rate of 32%.Calculate the dollar amount of ending inventory shown on Towing Company'sMay 31 balance sheet using the weighted average method.
