Problem 160 (Part Level Submission) Jones Company was formed on December 1, 2016. The following information is available from Jones's inventory record for Product X. Units Unit Cost January 1, 2017 (beginning inventory) 2,400 $18.00 Purchases: January 5, 2017 January 25, 2017 February 16, 2017 March 15, 2017 3,900 $20.00 3,600 $21.00 1,500 $22.00 2,700 $23.00 A physical inventory on March 31, 2017, shows 3,000 units on hand