ATC 5-2 Group Assignment Inventory cost flow The accounting records of Robin Co. showed the following balances at January 1, Year 2: Transactions for Year 2 were as follows: Cash $30,000 Beginning inventory (100 units @ $50, 70 units @ $55) 8,850 Common stock 20,000 Retained earnings 18,850 Purchased 100 units @ $54 per unit. Purchased 250 units @ $58 per unit. Sold 220 units @ $80 per unit. Sold 200 units @ $90 per unit. Paid operating expenses of $3,200. Paid income tax expense. The income tax rate is 30%.