In its first month of operations, Sheridan Company made three purchases of merchandise in the following sequence: (1) 330 units at $8, (2) 440 units at $9, and (3) 230 units at $10.

(a)

Calculate the average unit cost. (Round answer to 2 decimal places, e.g. 15.25.)

Average unit cost

$enter the average unit cost in dollars rounded to 2 decimal places

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(b)

Compute the cost of the ending inventory under the average-cost method, assuming there are 380 units on hand. (Round answer to 0 decimal places, e.g. 1,250.)

The cost of the ending inventory

$enter the cost of the ending inventory in dollars rounded to 0 decimal places