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Chris Company uses the perpetual inventory system and had the following activity during the current monthly period.
November1: Beginning Inventory of100 units @$20
November5: Purchased100 units @ $22
November8: Purchased50 units @$23
November16: Sold200 units @ $45
November19: Purchased50 units @ $25
Using the weighted-average inventory method, the company's ending inventory would be reported at:
A) $2,200. B) $2,320. C) $2,250. D) $2,400. E) $2,270.
Answer B is the right option $2320 . And cost of goods sold is $4280 . And gross income is $4720 .
B) $2,320 ..............................................................................
