Question 35

A company just starting its business made the following four inventory purchases in June: Date Number of Units Total Cost 150 $480 Jun 1 Jun 10 200 660 Jun 15 200 680 Jun 28 150 525 On June 25, the company made its first sale when a local customer purchased 500 units for $3,500. The company uses a perpetual inventory system. Using the average cost formula (round to 2 decimal places), the cost of the ending inventory on June 30 is: Select one: O a $1,675.00 O b. $1,645.55 O c. $690.50 O d. $670.00