Santa Claus Basket Co. sells baskets and uses a periodic inventory approach. The Banger Basket is one of the baskets it sells and this brand had the following beginning inventory, purchase, and sales history for the current year: Cost per Number of Baskets 8 10 4 22 15 7 Basket $144.00 $150.00 $175.00 January 1 inventory August 15 purchases December 10 purchase Available for sale September 1 sales December 31 inventory Total Cost $1,152.00 $1,500.00 $700.00 $3.352.00 The selling price of the basket was $250