Multiple Choice
A company just starting a business purchased three inventory items at the following prices: March 2, $150; March 7, $160; and March 15, $180. If the company sold one unit for $230 on March 10 and one unit for $250 on March 20 and uses the average cost formula in a perpetual inventory system, what is the cost of ending inventory?
A) $163.34
B) $167.50
C) $180.00
D) $250.00
Correct Answer:
Verified
Correct Answer:
Verified
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