During the months of January and February, Axe Corporation purchased goods from three suppllers. The sequence of events was as follows: January 6 Purchased goods for $1,200 from Green with terms 2/10,n/30. January 6 Purchased goods tron Munoz for $900 with terms 2/10,n/30. January 14 paid Green in full. February 2 Paid Munoz in full. February 28 Purchased goodn for $350 from Reynolds with terme n/45. Required: Assume that Axe uses a 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