Paddington Gifts made purchases of a particular product in the current year as follows: Jan. 1 Beginning inventory 240 units @ $ 6.00 = $ 1,440 Mar. 7 Purchased 500 units @ $ 5.60 = 2,800 July 28 Purchased 1,000 units @ $ 5.00 = 5,000 Oct. 3 Purchased 900 units @ $ 4.40 = 3,960 Totals 2,640 units $ 13,200