Question 3

The following inventory transactions took place for Sandhill Ltd. for the year ended December 31, 2020:

Date		Event		Quantity			Cost/ Selling Price
Jan 1		opening inventory		19,920			$41.15
Jan 5		sale		5,860			72.50
Feb 15		purchase		34,760			40.75
Mar 10		purchase		10,260			48.50
May 20		sale		42,000			72.50
Aug 22		purchase		15,000			47.00
Sep 12		sale		20,300			72.50
Nov 24		purchase		9,300			47.60
Dec 5		sale		16,000			72.50

Calculate the ending inventory balance for Sandhill Ltd., assuming the company uses a perpetual inventory system and the moving-average cost formula. Also calculate the per-unit cost of the last item sold. (Round unit costs to 2 decimal places, e.g. 52.75 and ending inventory to 0 decimal places, e.g. 5,275.)

Ending inventory		$ ???
Unit cost of the last item sold		$ ???