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Desert Company has a beginning balance in inventory of 400 units at $4.20 per unit. A...

Desert Company has a beginning balance in inventory of 400 units at $4.20 per unit. A record of transactions for the month of May was as follows:

Purchases Sales
May # Cost May # Price
4 1,300 $4.10 3 200 $7.00
8 800 $4.30 6 1,000 $7.00
14 700 $4.40 12 900 $7.50
22 1,200 $4.50 18 400 $7.50
29 500 $4.55 25 1,400 $8.00

Calculate Ending Inventory in dollars using an Average Cost Periodic inventory costing system. Round to the nearest dollar.

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