Using periodic costing procedures, compute the cost of the December 31 inventory

	Number	Cost	Total
of Units	Per Unit	Cost
Inventory, Jan. 1	12	$299	$3,588
First purchase (May 12)	15	306	4,590
Second Purchase (July 9)	21	308	6,468
Third purchase (Oct. 4)	8	315	2,520
Fourth purchase (Dec. 18)	17	320	5,440
Goods available for sale	73		$22,606
Units sold during the year	51
Inventory, Dec. 31	22