Current Attempt in Progress

Sheridan Company produced $10,000$ units during the past year but sold only $8,000$ of the units. The following additional information is

also available:

There was no work in process inventory at the beginning of the year. Sheridan did not have any beginning finished goods inventory

either.

$($a$)$

Calculate Sheridan Company's finished goods inventory cost on December $31$ under variable costing. $($Round per unit calculations

to $2$ decimal places, e$.$g$.15\mathrm{.}25$ and final answer to $0$ decimal places, e$.$g$.125.)$

Finished goods inventory cost