11. Eaton Electronics uses a periodic inventory system.

On March 31, Eaton has two plasma TVs on hand at a cost of $1,500 each (serial numbers 11534892 and 11534894).

In April, the company purchases four more idencal TVs from Toshiba for $1,450 each (serial numbers 11542631 through 11542634).

In May, the company purchases five more idencal TVs for $1,600 each (serial numbers 11550964 through 11550968).

In June, Eaton sells two of these TVs (serial numbers 11534894 and 11542631). There were no addional purchases or sales during the remainder of the year.

Eaton Electronics uses the weighted average method. What is the company's weighted average cost per unit? (Round the per unit cost to the nearest dollar.)

A. $1,500

B. $1,517

C. $1,527

D. $1,600

13. A $15,000 understatement of the current year's ending inventory was discovered aer the financial statements for the year were prepared. How would that inventory error impact the current year's financial statements?

A. Current assets are overstated, and net income is understated.

B. Current assets are overstated, and net income is overstated.

C. Current assets are understated, and net income is understated.

D. Current assets are understated, and net income is overstated.