You are provided with the following information for Amelia Inc., which purchases its inventory from a supplier for cash. Returns are usually not damaged and are immediately restored to inventory for resale. Amelia uses the average cost formula in a perpetual inventory system. Increased competition has recently reduced the price of the product.

Date	Explanation	Units	Unit Cost/Price
July	1	Beginning inventory	22	$9
6	Purchase	47	13
8	Sale	(64	)	17
10	Sales return	14	17
15	Purchase	68	12
16	Purchase return	(11	)	12
20	Sale	(46	)	13
27	Purchase	13	12

Prepare all journal entries for the month of July for Amelia, the buyer.((Credit account titles are automatically indented when the amount is entered.Do not indent manually. Round answers to 2 decimal places, e.g. 1.25. If no entry is required, select "No entry Required" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
July. 1
6
8 (i)
8 (ii)
10 (i)
10 (ii)
15
16
20 (i)
20 (ii)
27

Determine the ending inventory amount for Amelia.(Round answer to 2 decimal places, e.g. 1.25.)

Ending Inventory

$

On July 31, Amelia learns that the product has a net realizable value of $20 per unit. What amount should ending inventory be valued at on the July 31 statement of financial position?(Round answer to nearest whole dollar, e.g. 1525.)

Ending Inventory Valued at

$