Exercise 8-19 (Part Level Submission)

Marigold Corporation began operations on December 1, 2019. The only inventory transaction in 2019 was the purchase of inventory on December 10, 2019, at a cost of $22 per unit. None of this inventory was sold in 2019. Relevant information is as follows.

Ending inventory units
December 31, 2019				125
December 31, 2020, by purchase date
December 2, 2020		125
July 20, 2020		50		175

During the year 2020, the following purchases and sales were made.

Purchases						Sales
March 15		325 units	at	$26		April 10		225
July 20		325 units	at	27		August 20		325
September 4		225 units	at	30		November 18		175
December 2		125 units	at	32		December 12		225

The company uses the periodic inventory method.

(a1) Calculate average-cost per unit. (Round answer to 2 decimal places, e.e. 2.76.) Average-cost