A new company has inventory data for an item purchased during the year The year-end ending inventory is 1,000 units. Using the periodic system, average cost method, what is the cost of the merchandise inventory at yea end? The purchase activity is as follows: Date No. of Items Purchased Cost/Unit Total Cost Jan. 16 800 $7.00 $8.00 $9.00 5,600 Mar. 18 2,200 17,600 Nov. 23 2,000 18,000 Total 5.000 $41,200 O $8,000 O $41200 O $9,000 $8.240