The following information is taken from the inventory records of the CNB Company for the month of September:

The following information is taken from the inventory records of the CNB Company for the month of September: Beginning inventory, 9/1/16 5,000 units $10.00 Purchases: 3,000 units $10.40 9/25 8,000 units $10.75 Sales 4,000 units 9/10 5,000 units 9/29 7,000 units were on hand at the end of September