Problem 11 The following information was available from the inventory records of Key Company for February:

Units Unit Cost Total Cost

Balance at February 1 3,000 $9.77 $29,310

Purchases:

February 6 2,000 10.30 20,600

February 26 2,700 10.71 28,917

Sales:

February 7 (2,500)

February 28 (4,200)

Balance at February 28 1,000

Assuming that Key uses the perpetual inventory system, what should the ending inventory be at February 28, using the moving-average inventory method, rounded to the nearest dollar?

Problem 11 options:

a)

$10,237

b)

$10,260

c)

$10,360

d)

$10,505