Sheldon Company had 2,000 units of inventory costing $10,000…
Sheldon Company had 2,000 units of inventory costing $10,000 in beginning inventory at July 1st. During July, Sheldon engaged in the following transactions: A. July 3rd – The company paid cash to purchase 1,000 units of inventory for $6,500. B. July 10th – The company paid cash to purchase 1,200 units of inventory for $8,400. C. July 24th – The company paid cash to purchase 250 units of inventory for $2,125. Throughout July, the company sold inventory 3,700 units of inventory for $44,400 cash. Under a LIFO valuation method, what is the ending inventory for July?