The following information pertains to Julia Company March 1

The following information pertains to Julia & Company: March 1 Beginning inventory = 31 units @ $5.70 March 3 Purchased 21 units @ 3.80 March 9 Sold 25 units @ 8.60 What is the ending inventory balance for Julia & Company assuming that it uses FIFO

Ending inventory = (21 x $3.80) + (6 x $5.70) = $114