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The Xu Corporation uses a periodic inventory system. The company has a beginning inventory of 1,950 units at $22 each on January 1. Xu purchases

The Xu Corporation uses a periodic inventory system. The company has a beginning inventory of 1,950 units at $22 each on January 1. Xu purchases 2,200 units at $21 each in February and 1,050 units at $23 each in March. There were no additional purchases or sales during the remainder of the year. Xu sells 1,000 units during the quarter. If Xu uses the weighted average method, what is its cost of goods sold for the quarter?

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