4. Compute the cost of ending inventory and cost of goods sold using the average cost inventory costing method. (Note: Use four decimal places for per-unit calculations and round all other numbers to the nearest dollar.)

Crandall Distributors uses a perpetual inventory system and has the following data available for inventory, purchases, and sales for a recent year: Purchase Price Sale Price Activity Beginning inventory Purchase 1, Jan. 18 Sale 1 Sale 2 Purchase 2, Mar. 10 Sale 3 Sale 4 Purchase 3, Sept. 30 Sale 5 Units 110 575 380 225 680 270 290 230 240 (per unit) (per unit) $7.10 7.20 $12.00 12.00 7.50 12.00 12.50 7.70 12.50