A wholesaler had opening inventory of 300 units of product Emm valued at $25 per unit at the beginning of January. The following receipts and sales were recorded during January.
Date????????????????????????? ?2 Jan????????????????? ? ?12 Jan??????????????????21 Jan???????????????????? 29 Jan
???????????????????????????????????????????????????????????????? 400
Issues?????????????????????????250????????????????????????????????????????????????????? 200?????????????????????????? ?75
The purchase cost of receipts was $25.75 per unit. Using a weighted average method of valuation, calculate the value of closing inventory at the end of January.