Waterway Company had a beginning inventory on January 1 of 180 units of Product 4-18-15 at a cost of $20 per unit. During the year, the following purchases were made.

Mar. 15 490 units at $22

Sept. 4 320 units at $26

July 20 250 units at $24

Dec. 2 100 units at $28

1,120 units were sold. Waterway Company uses a periodic inventory system.