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Calculate the dollar amount of ending inventory

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Question - Jackson Company employs a periodic inventory system and sells its inventory to customers for $22 per unit. Jackson Company had the following inventory information available for the month of September:

September 1 Beginning inventory 1,200 units @ $15 cost per unit

September 8 Sold 900 units

September 13 Purchased 1,300 units @ $10 cost per unit

September 18 Sold 800 units

September 20 Purchased 2,100 units @ $24 cost per unit

September 24 Sold 1,400 units

September 27 Purchased 2,400 units @ $11 cost per unit

September 29 Sold 600 units

During September, Jackson Company reported operating expenses of $4,000 and had an income tax rate of 35%.

Calculate the dollar amount of ending inventory shown on Jackson Company's September 30 balance sheet using the LIFO method. Do not use decimals in your answer.

Reference no: EM131678974

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