Riverbed Inc. has provided you with the following information. This company purchases its inventory from a supplier for cash and has only cash sales. Riverbed uses the average cost formula in a perpetual inventory system. Increased competition has recently reduced the price of the product. Unit Price Date Apr. Unit Cost $78 89 Explanation Beginning inventory Purchases Sales Purchases Sales Purchases 1 6 8 15 20 27 Units 50 110 (130) 120 (120) 20 $116 70 96 62 (a) (b) * Your answer is incorrect. Determine the ending inventory amount for Riverbed (Round answer to 2 decimal places, eg. 1.25.) Ending Inventory $ 1240