Pelham Inc. had no inventory as of August 1. It had the following transactions during August: August 2: purchased 2 inventory items for $4 each August 10: purchased 3 inventory items for $3.75 each August 15: sold 1 item for $8 August 20: purchased 3 inventory items for $4.25 each. August 25: sold 3 items for $8.20 each. Assuming weighted average and a perpetual inventory system, what is the closest amount to ending inventory at August 31?

$12.75

$15.91

$12.06

$16.09