Narrative 16-1
Use the Information Below for the Following Problems

Short Answer

Narrative 16-1
Use the information below for the following problems:
The following is the inventory for the year for Better Products, Inc.:
$$\begin{array} { l l l l } \text { Date } & \text { Units } & \text { Cost per unit } & \text { Total Cost } \\\hline \text { Beginning inventory, Jan. 1 } & 50 & \$ 85.26 & 4,263 \\\text { Purchase, April 15 } & 200 & 92.50 & 18,500 \\\text { Purchase, September 20 } & 140 & 91.50 & 12,810 \\\text { Purchase, December 15 } & 30 & 98.60 & 2,958 \\\hline \text { Total Units Available } & 420 & & \$ 38,531\end{array}$$
-Refer to Narrative in your text 16-1. Using the Better Products inventory chart, what is the dollar value of the ending inventory on December 31 if Better Products used the average cost method of valuing their ending inventory of 85 units? (Round the average cost per unit to the nearest cent)