3. Leading Edge Frame Shop wants to know the effect of different inventory costing methods on its

financial statements. Inventory and purchases data for June follow:

June

1

4

9

Beginning inventory

Purchase

Sale

Units

2,300

1,300

(1,400)

Unit Cost

$16.00

$16.50

Total Cost

$36,800

$21,450

If Leading Edge uses the FIFO method, what will be the cost of ending inventory?