Question 1 Desert Company has a beginning balance in inventory of 417 units at $4.20 per unit. A record of transactions for the month of May is as follows: Purchases May # Sales Cost May # Price 3 200 $7.00 4 1,300 $4.10 14 700 $4.40 12 900 $7.50 29 500 $4.55 25 1,400 $8.00 Calculate Cost of Goods Sold in dollars using an Average Cost Periodic inventory costing system. Round to the nearest dollar. 1 pts