sells patio loungers and uses a perpetual inventory system to account for its merchandise. The beginning balance of patio loungers and transactions during June of last year were as follows:
June 1 Opening balance: 85 units costing $250 each
June 5 Purchased 120 units costing $265 each
June 11 Sold 55 units
June 19 Sold 45 units
June 23 Purchased 75 units costing $280 each
June 25 Sold 45 units
June 30 Sold 70 units
Required:
Calculate the cost of Home Hardware Ltd.'s ending inventory at the end of June assuming the company keeps its records on a FIFO basis. Round your answer to the nearest dollar.