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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
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.)
$16.67
$17.00
$16.17
$18.00
$15.00
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