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Lift Company uses a periodic inventory system and its inventory records contain the following information: Units Total Cost Beginning inventory: 600 $1,560 Purchased on May
Lift Company uses a periodic inventory system and its inventory records contain the following information: Units Total Cost Beginning inventory: 600 $1,560 Purchased on May 10 see 2,340 Purchased on June 15 1,000 2,520 Purchased on August 28 600 3,000 1,980 $8,400 The company sold 2,000 units during June. There were no additional purchases or sales during the remainder of the year. The company had 1,000 units in its ending inventory at the end of the year. If Lift uses the weighted average inventory costing method, what is the ending inventory for the period? (Round the per unit cost to 2 decimal places and then round your answer to the nearest whole dollar.) O $2.800 O $8400 $5.600 $2,730
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