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Inventory records for Herb's Chemicals revealed the following: March 1, 2016, inventory: 1,000 gallons @ $7.20 = $7,200 Purchases: Sales: Mar. 10 600 gals @

Inventory records for Herb's Chemicals revealed the following: March 1, 2016, inventory: 1,000 gallons @ $7.20 = $7,200

Purchases: Sales:
Mar. 10 600 gals @ $7.25 Mar. 5 400 gals
Mar. 16 800 gals @ $7.30 Mar. 14 700 gals
Mar. 23 600 gals @ $7.35 Mar. 20 500 gals
Mar. 26 700 gals

The ending inventory under a periodic inventory system assuming average cost (rounding unit cost to three decimal places) is:

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