The following inventory transactions took place forSheridanCorporation for the month of May:

DateEventQuantityCost/

Selling

PriceMay 1beginning inventory2,070$3.30May 5purchase5,2603.50May 10purchase3,9303.60May 15sale5,8506.60May 20sale1,9706.60May 22purchase4,0303.80May 24purchase1,9703.80May 25sale6,0806.60

The following inventory transactions took place for Sheridan Corporation for the month of May: Cost! Selling Date Event Quantity Price May 1 beginning inventory 2,070 $3.30 May 5 purchase 5,260 3.50 May 10 purchase 3,930 3.60 May 15 sale 5,350 6.60 May 20 sale 1,970 6.60 May 22 purchase 4,030 3.30 May 24 purchase 1,970 3.30 May 25 sale 6,030 6.60 Calculate the ending inventory balance for Sheridan Corporation, assuming the company uses a periodic inventory system and the weighted average cost formula. (Round avenge unit tests to 2 decfmal places, 9.3. 52.?5 and nal answer to 0 decimal planes. 8-!- 5.275.) Ending inventory $ l