Platt Electric is a wholesaler for commercial builders. The company uses a perpetual inventory system and a FIFO cost-flow assumption. The data concerning a particular product for the year 20X8 follows:

Calculate the ending inventory balance in units anddollars.

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Units Purchased Units Sold Balance 100 $5 $500 December 31, 20X7 February 10, 20X8 April 14 May 9 July 14 October 21 80 @ $6 480 110 @ $7 $ 770 100 $8$800 60 120 November 12 Total 75 290 $2,050 255