Minnetonka,Inc What Is the Unit Cost Per Item Sold? (Round Your

Multiple Choice

Minnetonka,Inc.is a merchandiser of stone ornaments.The company sold 15,600 units during the year.The company has provided the following information: $$\begin{array} { | l | r | } \hline \text { Sales Revenue } & \$ 554,000 \\\hline \text { Purchases (excluding Freight In) } & 300,000 \\\hline \text { Selling and Administrative Expenses } & 66,000 \\\hline \text { Freight In } & 14,000 \\\hline \text { Beginning Merchandise Inventory } & 47,000 \\\hline \text { Ending Merchandise Inventory } & 55,500 \\\hline\end{array}$$
What is the unit cost per item sold? (Round your answer to the nearest cent.)

A) $19.58
B) $16.57
C) $23.14
D) $20.13