During the months of January and February, Axe Corporation purchased goods from three suppliers. The sequence of events was as follows: Jani Purchased foods for $700 from Green with terms 2/15, 1/60 Purchased toods from Munoz for $550 with terms 2/15, 1/60 14 Wait reen is fell Feb Paldino in full 21 Purchased coods for $300 Fron Heynolds with term n/60. Required: Assume that Ate uses perpetual inventory system, the company had no inventory on hand at the beginning of January, and no sales were made during January and February, Calculate the cost of inventory as of February 28