Swifty Corporation just began business and made the following four inventory purchases in June: June 1 123 units 164 units June 10 June 15 164 units $738 1148 1312 1107 $4305 June 28 123 units A physical count of merchandise inventory on June 30 reveals that there are 156 units on hand. Using the average cost method the amount allocated to the ending inventory on June 305 $1092 Sur S1248 $1371 On January 15, Sheridan Company sells merchandise on account to Culver Associates for $7700 with terms 1/10,n/30. On January 20, Culver returns merchandise worth $1300 to Sheridan. On January 24, payment is received from Culver for the balance due. What is the amount of cash received? $6336 $6400 0 $6323 C $5200