Question: Peter Co uses a periodic inventory system and purchases (use 4 decimal points for unit cost) for the month of August were: Date Units Unit

Peter Co uses a periodic inventory system and purchases (use 4 decimal points for unit cost) for the month of August were:

Date Units Unit cost $
Beginning Inventory 1-Aug 2600 2.5497
Purchase 10-Aug 7000 3.5917
Purchase 21-Aug 2200 4.2398
Purchase 29-Aug 5400 4.1742

Sales during the year were 11900 units. Peter Co uses the Weighted Average cost assumption with the periodic inventory method. The value of the closing inventory at the end of the period is:

(In your answer you should include at least 2 decimal places)

Answer:

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