QUESTION 15

1. Fuller has the following timber inventory records for May:

   Beginning inventory: 1,400 feet @ $8.0 per feet = $11,200

   Purchases:							Sales:
   May 10	680	feet	@	$	8.05		May 5	480	feet
   May 16	880	feet	@	$	8.10		May 14	780	feet
   May 23	680	feet	@	$	8.15		May 20	580	feet
   							May 26	780	feet

   Ending inventory using average cost (round unit cost to three decimals) in a periodic system is:

   	A.	$8,141.
   	B.	$8,243.
   	C.	$8,213.
   	D.	$8,223.