Beginning inventory, purchases, and sales data for the first part of January are as follows:

January 1 Inventory 500 units @ $4.00

January 3 Purchase 1,200 units @ $3.80

January 4 Purchase 800 units @ $4.10

January 5 Sale 2,200 units

January 8 Purchase 700 units @ $4.15

January 10 Purchase 1,000 units @ $4.05

January 12 Sale 1,400 units

Assume now that the business maintains a perpetual inventory system using the average cost flow assumption.

a. What is the total cost assigned to the 2,200 units sold on January 5? Show your work, rounding the average cost to the nearest cent and the cost of goods sold to the nearest dollar.

b. What is the total cost of the units remaining in inventory after the January 5 sale? Show your work, rounding the average cost to the nearest cent and the ending inventory to the nearest dollar.

c. What is the total cost assigned to the 1,400 units sold on January 12? Show your work clearly. (You may round the average cost to the nearest cent and the cost of goods sold to the nearest dollar.)

Please do NOT use Excel to answer question