The Following Information Was Available from the Inventory Records of a Company

Multiple Choice

The following information was available from the inventory records of a company for July 2008: $\begin{array} { | l | l | l | l | } \hline & \text { Units } & \text { Unit Cost } & \text { Total Cost } \\\hline \text { Balance at July 1, 2008 } & 2,000 & \$ 19.55 & \$ 39,100 \\\hline \text { Purchases July 6, 2008 } & 1,500 & 20.60 & 30,900 \\\hline \text { July 16, 2008 } & 3,400 & 21.50 & 73,100 \\\hline \text { Sales July 7, 2008 } & ( 1,800 ) & & \\\hline \text { July 31, 2008 } & ( 3,200 ) & & \\\hline \text { Balance at July 31,2008 } & 1,900 & & \\\hline\end{array}$
Assuming that the company uses the periodic inventory system, what would be the inventory valuation at July 31, 2008, using the weighted-average inventory method (rounded to the nearest dollar) ?

A) $39,046
B) $39,406
C) $39,900
D) $39,996