5. The following information was available from the inventory records of Queen Company for July:

Units Unit Cost Total Cost

Balance at July 1 30,000 2.25 67,500

Purchases:

July 6 20,000 2.55 51,000

July 26 27,000 2.60 70,200

Sales:

July 7 (25,000)

July 31 (40,000)

Balance at July 31 12,000

What should be the inventory reported on Queens July 31 statement of financial position using the average-cost inventory method (round per unit amounts to two decimal places)?

a. 27,000.

b. 29,400.

c. 29,610.

d. 31,500.