A Company Uses the Periodic Inventory System and Had the Following

Multiple Choice

A company uses the periodic inventory system and had the following activity during the current monthly period. $$\begin{array} { | l | l | l | } \hline \text { November 1: } & \text { Beginning inventory } & 100 \text { units } @ \$ 20 \\\hline \text { November } 5 : & \text { Purchased } & 100 \text { units } @ \$ 22 \\\hline \text { November } 8 : & \text { Purchased } & 50 \text { units } @ \$ 23 \\\hline \text { November 16: } & \text { Sold } & 200 \text { units } @ \$ 45 \\\hline \text { November 19: } & \text { Purchased } & 50 \text { units } @ \$ 25 \\\hline\end{array}$$ Using the weighted-average inventory method, the company's ending inventory would be:

A) $4,400
B) $2,250
C) $2,400
D) $2,200
E) $2,000