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Oriole has the following inventory data: July 1 Beginning inventory 34 units at $67 5 Purchases 202 units at $63 14 Sale 134 units 21
Oriole has the following inventory data:
July 1 | Beginning inventory | 34 units at $67 | ||
5 | Purchases | 202 units at $63 | ||
14 | Sale | 134 units | ||
21 | Purchases | 101 units at $65 | ||
30 | Sale | 94 units |
Assuming that a perpetual inventory system is used, what is ending inventory (rounded) under the average cost method for July? (Round intermediate calculations to 3 decimal places, e.g. 12.531.)
a. $6319
b. $7007
c. $7075
d. $7051
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