Required Information [The following information applies to the questions displayed below] Alphabet Company, which uses the periodic inventory method, purchases different letters for resale. Alphabet had no beginning inventory. It purchased A thru G in January at $4.00 per letter in February, it purchased H thru L. at $6.00 per letter. It purchased M thru R in March at $7.00 per letter sold A, D, E, H, J and N in October. There were no additional purchases or sales during the remainder of the year If Alphabet Company uses the weighted average method, what is the cost of its ending inventory? (Round the per unit cost to two decimal places and then round your answer to the nearest whole dollar)