Kara Company uses a periodic inventory system. Kara sold 420 coats in 2012 for $500 each. Other data for 2012 includes: Merchandise inventory and...

Merchandise inventory and purchases: (coats inventory) 

 Jan. 1          Balance              300 coats @ $ 70.00 = $21,000

 March 6      Purchased          200 coats @ $ 80.00 = $16,000

 July 15        Purchased          300 coats @ $ 90.00 = $27,000

 Oct. 23        Purchased          100 coats @ $100.00 = $10,000