a physical inventory recorded on july 31 discloses stock of 10 000 units 598940

Icon records a periodic inventory of its stocks at the end of each month. The physical inventory recorded on June 30 shows a balance of 1,000 units @ $2.28 per unit. The following purchases were made during July.

Date	Units	Rate
July 1	14,000	$2.30 per unit
July 7	10,000	$2.32 per unit
July 9	20,000	$2.33 per unit
July 25	5,000	$2.35 per unit

A physical inventory recorded on July 31 discloses stock of 10,000 units.