Use the inventory information below for the month of July to answer the following question:

Use the inventory information below for the month of July to answer the following question:July 1 Beginning Inventory 20 units at $19 eachJuly 7 Purchase 70 units at $20 eachJuly 22 Purchase 10 units at $22 eachA physical count of merchandise inventory on July 31 reveals that there are 35 units on hand.Using the average cost method, the value of ENDING INVENTORY is