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Use the Following Information for Questions

Question 70

Multiple Choice

Use the following information for questions.
A company just starting its business made the following four inventory purchases in June: Use the following information for questions. A company just starting its business made the following four inventory purchases in June: On June 25, the company made its first sale when a local customer purchased 500 units for $3,500. The company uses a perpetual inventory system. -Using the average cost formula, the cost of the ending inventory on June 30 is A) $670.00. B) $690.50. C) $1,645.55. D) $1,675.00. On June 25, the company made its first sale when a local customer purchased 500 units for $3,500. The company uses a perpetual inventory system.
-Using the average cost formula, the cost of the ending inventory on June 30 is


A) $670.00.
B) $690.50.
C) $1,645.55.
D) $1,675.00.

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