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A company had the following purchases and sales during its first year of operations: Purchases Sales January: 5 units at $100 6 units February: 15

A company had the following purchases and sales during its first year of operations:

Purchases

Sales

January:

5 units at $100

6 units

February:

15 units at $110

5 units

May:

10 units at $142

9 units

September:

6 units at $145

8 units

November:

20 units at $150

13 units

On December 31, there were 30 units remaining in ending inventory. Using the Perpetual FIFO inventory valuation method, what is the cost of the ending inventory? (Assume all sales were made on the last day of the month.)

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