Inventory records for Water Incorporated revealed the following: Date Transaction July 1 Beginning inventory July 25 Purchase Number of Units 540 440 Unit Cost $2.36 2.62 Water Inc. sold 560 units of Inventory during the month. Ending inventory assuming weighted average cost would be: (Round weighted average unit cost to 4 decimal places and final answer to the nearest dollar amount.) Multiple Choice $1,040 $1120 O $1019 $1046