Your firm values inventory using the weighted average cost method. At 1 October 20x8, there were 60 units in imventory valued at $12 each, On 8 October, 40 units were purchased for $15 each, and a further 50 units were purchased for $18 each on 14 October, On 21 October, 75 units were sold for $1.200. What was the value of closing inventory on 31 October 20B ? "On 31 October 20B, the value of closing inventory using weighted average method was