INVENTORY VALUATION Assume that Strictly Classical purchased Date Purchased Cost/Unit Total Cost Strictly Classical 10,000 compact disks as follows: No. of Disks $7.00 5,600 Jan. 1 Mar.8 June 23 800 2,200 4,000 Sept. 153.000 $7.50 $7.25 $7.40 16,500 29,000 22.200 $73,300 Total10,000 If the year-end inventory reveals 1,000 disks on hand, what is the inventory value on the balance sheet? What is the store's cost of merchandise sold