Alphabet Company, which uses the periodic inventory method, buys different letters for resale. It buys A thru G in January at $6.5 per letter. In February, it buys H thru L at $8.5 per letter. It buys M thru R in March at $9.5 per letter. It sells A, D, E, H, J and N in April. If the company uses the weighted average method, what is the cost of its ending inventory? $68 $97 $105 $78