Suppose that Pharoah has the following inventory data: July 1 Beginning inventory 36 units at $19 $684 7 Purchases 126 units at $20 2520 22 Purchases 18 units at $22 396 $3600 The company uses a periodic inventory system. A physical count of merchandise inventory on July 31 reveals that there are 60 units on hand. Using the average-cost method, the value of ending inventory is