A Company Had 60 Units of Inventory at a Cost

Multiple Choice

A company had 60 units of inventory at a cost of $15 each on January 1. On March 25, the company purchased 40 units for $17 each. On July 10, the company purchased 20 units for $18 each. Given this information, determine the weighted average unit cost under the periodic inventory method. (Do not round your intermediate calculations; round the final answer to nearest whole cent.)

A) $16.67
B) $17.00
C) $18.00
D) $16.17
E) $15.00