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Towing Company employs a periodic inventory system. At July 1, Towing Company had 2,200 units of inventory on hand, with each unit having a cost
Towing Company employs a periodic inventory system. At July 1, Towing Company had 2,200 units of inventory on hand, with each unit having a cost of $33. During July, Towing Company recorded the following purchases of inventory July 11 4,100 units purchased at ??? per unit July 19 3,800 units purchased at $24 per unit July 22 2,900 units purchased at $36 per unit During July, Towing Company sold 6,600 units of inventory to its customers at a selling price of $51 per unit. Using FIFO, Towing Company calculated its gross profit for July to be equal to $105,100. Calculate the dollar amount of ending inventory shown on Towing Company's July 31 balance sheet using the weighted average method
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