Addison, Inc. uses a perpetual inventory system. Information regarding one inventory item for the month of September follows: Sep. 1 20 units at $20 Inventory Sold 4 10 units 10 Purchased 30 units at $25 17 Sold 20 units 30 Purchased 10 units at $30 If Addison uses the weighted average cost method, what is the inventory balance at the end of September? a $1,150.00 b. $1,187.50 c. $1,500.00 d. $1,375.00 The following lots of Commodity P were available for sale during the year. Beginning inventory 5 units at $61 First purchase 15 units at $63 Second purchase 10 units at $74 Third purchase 10 units at $77 The firm uses the periodic inventory system, and there are 20 units of the commodity on hand at the end of the year. What is the year-end inventory balance of Commodity P using the weighted average cost method? a. $1,380 b. $1,510 c. $1,250 d. $1,375