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Sheridan Top uses the periodic inventory system. For the current month, the beginning inventory consisted of 476 units that cost $61 each. During the
Sheridan Top uses the periodic inventory system. For the current month, the beginning inventory consisted of 476 units that cost $61 each. During the month, the company made two purchases: 718 units at $64 each and 356 units at $66 each. Sheridan also sold 1204 units during the month. If the average-cost method is used, what is the amount of ending inventory? (Round average cost per unit to 2 decimal places, e.g. 21.48.) $76502 $21985. $22836 $75648.
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