Question - Snug-As-A-Bug Blankets has the following inventory data:
July 1 Beginning inventory 15 units at $60
July 5 Purchases 90 units at $56
July 14 Sale 60 units
July 21 Purchases 45 units at $58
July 30 Sale 42 units
Assuming that a perpetual inventory system is used, what is ending inventory (rounded) under the average cost method for July?