q3

In its first year of operations, a retailer made the following inventory purchases: 280 units at $8.40 each, 310 units at $8.70 each, and 240 at $9.20 each. At year end, there are 490 units remaining in inventory. The retailer used a periodic inventory system. Using the weighted average cost formula, cost of goods sold for the year was: Select one: a. $3,067 b. $3,026 c. $2,840 d. $2,973 e. $3,051