Hardware began the month of November with 150 large brass switchplates on hand at a cost of $4.00 each. These switchplates sell for $7.00 each. The following schedule presents the sales and purchases of this item during the month of November.

	Purchases
Date of Transaction	Quantity Received	Unit Cost	Units Sold
November 5			100
November 7	200	$4.20
November 9			150
November 11	200	4.40
November 17			220
November 22	250	4.80
November 29			100

Refer to the Addison Hardware example. If Addison uses weighted average inventory pricing, the gross profit for November would be

a.	$1,046
*b.	$1,482
c.	$1,516
d.	$1,574

Please explain why B is the answer. Thanks!