* Your answer is incorrect. In its first month of operations, Cullumber Company made three purchases of merchandise in the following sequence: (1) 200 units at $2.(2) 300 units at $4, and (3) 500 units at $5. Assuming there are 100 units on hand at the end of the period. Cullumber uses a periodic inventory system. Compute the cost of the ending Inventory under the average-cost method. (Round the cost per unit to 3 decimal places, e.g. 8.875 and the final answer to O decimal places, c-. 5,275.) $ Cost of the ending inventory 500