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Current Attempt in Progress Bridgeport Inc. has provided you with the following information. This company purchases its inventory from a supplier for cash and has only cash sales. Bridgeport uses the average cost formula in a perpetual inventory system Increased competition has recently reduced the price of the product, Unit Price Date Apr. 1 Unit Cost $84 87 6 Explanation Beginning inventory Purchases Sales Purchases Sales Purchases 8 15 20 27 Units 50 110 (130) 120 (120) 20 $116 71 98 62 (a) ate Account Titles and Explanation Debit Credit 6 Inventory 9570 8 15080 Sale (To record sales) 8 Cost of Goods Sold 1116313 Inventory (To record cost of goods sold) 8520 15 Inventory 20 Cash 11760 11760 Sales (To record sales) 20 Costot Goods Sold Inventory (To record the inventory sold) 27 Inventory 1240 Cash Your answer is correct Determine the ending inventory amount for Bridgeport (Round answer to 2 decimal places, eg. 1.25.) Ending Inventory x Your answer is incorrect. On April 30, Bridgeport learns that the product has a net realizable value of $51 per unit. Determine the amount that endin inventory will be valued at on the April statement of financial position. Ending Inventory Valued at 3240 e Textbook and Media