6 of 12 View Policies Current Attempt in Progress -/1 E In its first month of operations, Sandhill Company made three purchases of merchandise in the following sequence: (1) 700 units at $9, (2) 800 units at $11, and (3) 1,000 units at $12. Assuming there are 600 units on hand at the end of the period. Sandhill uses a periodic inventory system. Compute the cost of the ending inventory under the average-cost method. (Round the cost per unit to 3 decimal places, eg. 8.875 and the final answer to O decimal places, eg. 5.275.) Cost of the ending inventory $ eTextbook and Media Updated Chapter 7 Homework PML Question 7 of 12 View Policies < Current Attempt in Progress -/1 E In its first month of operation, Metlock Company purchased 86 units of inventory for $6, then 172 units for $7, and finally 118 units for $8. At the end of the month, 156 units remained. The company uses the periodic method. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO Phantom profit $ eTextbook and Medial Save for Later Attempts: 0 of 3 used Submit