4. Inventory valuation

To compare the different inventory valuation methods, consider the following fictional company preparing a semiannual balance sheet. Each month 100 units of a raw material is purchased, but the price goes up each period. At the end of six months, the company takes a physical count and sees that 300 units are left and 300 units have been consumed.

	Units	Cost per Unit	Cost
January	100	$10	$1,000
February	100	$11	$1,100
March	100	$12	$1,200
April	100	$13	$1,300
May	100	$14	$1,400
June	100	$15	$1,500

In total, 600 units have been purchased at an average price of ? for a total cost of ?