Monty Limited stocks a variety of sports equipment for sale to institutions. The following stock record card for basketballs was taken from the records at the December 31,2023 year end: A physical inventory on December 31, 2023, reveals that 100 basketballs are in stock. The bookkeeper informs you that all the discounts were taken. Assume that Monty uses a periodic inventory system and records purchases at their invoice price less discounts. During 2023 , the average sales price per basketball was $22.25. Calculate the December 31, 2023 inventory using the FIFO formula. (Round answer to 2 decimal places, e.g. 52.75. ) Ending inventory $ eTextbook and Media Attempts: 0 of 15 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above. (C1) The parts of this question must be completed in order. This part will be available when you complete the part above