Orange-Aide Company Has the Following Inventory Data A Physical Count of Merchandise Inventory on July 30 Reveals

Multiple Choice

Orange-Aide Company has the following inventory data: $$\begin{array} { r l r r } \text { July } 1 & \text { Beginning inventory } & 40 \text { units at } \$ 20 & \$ 800 \\7 & \text { Purchases } & 140 \text { units at } \$ 21 & 2,940 \\22 & \text { Purchases } & 20 \text { units at } \$ 22 & { 440 }\\&&& { \$ 4,180 }\end{array}$$ A physical count of merchandise inventory on July 30 reveals that there are 50 units on hand. Using the average cost method, the value of ending inventory is

A) $1,070
B) $1,045 c $1,050
D $1,100