In its first month of operations, Kingbird, Inc. made three purchases of merchandise in the following sequence: (1) 800 units at $4. (2) 850 units at $6, and (3) 950 units at $7. (a) Your answer is correct. Calculate average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Average unit cost $ eTextbook and Media List of Accounts 5.750 Attempts: unlimited (b) Compute the cost of the ending inventory under the average-cost method, assuming there are 700 units on hand at the end of the period. (Round answer to 0 decimal places, e.g. 125.) The cost of the ending inventory $ eTextbook and Media List of Accounts