Question: Shellhammer Company's inventory records show the following data for the month of September: Units Unit Cost Inventory, September 1 100 $3.34 Purchases: September 8 450

Shellhammer Company's inventory records show the following data for the month of September:

Units Unit Cost

Inventory, September 1 100 $3.34

Purchases: September 8 450 3.50

September 18 350 3.70

A physical inventory on September 30 shows 200 units on hand. Calculate the value of the ending inventory and cost of goods sold if the company uses weighted average inventory costing and a periodic inventory system. Round cost per unit to 2 decimal places and ending inventory and cost of goods sold to the nearest dollar. Show workings. (5 marks)

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