During the year, a retailer made the following inventory purchases: 220 units at $7.00 each, 250 units at $8.00 each, and 240 at $10.50 each. At year end, there are 310 units remaining in inventory. The retailer used a periodic inventory system. Using the weighted average cost formula, the cost of ending inventory was:

Select one:

a.

$2,854

b.

$2,646

c.

$2,401

d.

$2,573

e.

$2,790

Clear my choice