Suppose that Target Corporation uses the periodic inventory system to account for inventories and has the following information at October 31. October 1 Beginning inventory 400 units $12.00 = $4,800 8 Purchase 800 units @ $12.40 = 9,920 16 Purchase 600 units @ $12.80 = 7,680 24 Purchase 200 units @ $13.60 = 2,720 Total units and cost 2,000 units $25,120 (a) Determine the ending inventory using the FIFO cost assumption if 500 units remain on hand at October 31. Ending inventory $