Suppose that Sheridan has the following inventory data: July 1 Beginning inventory 42 units at $19 7 22 Purchases Purchases 147 units at $20 $1423. $1358. $1442. $1400. 21 units at $22 $798 2940 462 $4200 The company uses a periodic inventory system. A physical count merchandise inventory on July 31 reveals that there are 70 units on hand. Using the average-cost method, the value of ending inventory is

Suppose that Sheridan has the following inventory data: The company uses a periodic inventory system. A physical count of merchandise inventory on July 31 reveals that there are 70 units on hand. Using the average-cost method, the value of ending inventory is $1423.$1358.$1442.$1400