Marriot serves a special Texan wine, and it is very popular amongst the clients. After the new year eve’s celebration, the restaurant only had 12 bottles in January to start the new year at a cost of $25.00 per bottle. Below are numbers pulled from their purchase records for the month of January:

Date           Bottles         Cost per Bottle

Jan 6          120                     $27.85

Jan 12        120                     $27.95

Jan 18         96                      $28.25

Jan 27       180                     $28.40

A physical count of the inventory on January 31st reveals that there are 31 bottles on hand.  

Using the Weighted Average inventory valuation method, please calculate:

1. Calculate the cost of ending inventory on January 31st

2. If each bottle is sold at $69.95, what is the cost of beverage sold?