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Stewart Company uses the perpetual inventory method. On January 1, 2011, Stewart purchased 400 units of inventory that cost $2.00 each. On January 10, 2011,
Stewart Company uses the perpetual inventory method. On January 1, 2011, Stewart purchased 400 units of inventory that cost $2.00 each. On January 10, 2011, the company purchased an additional 600 units of inventory that cost $2.25 each. If Stewart uses a weighted average cost flow method and sells 700 units of inventory, the amount of ending inventory reported on the balance sheet will be:
Select one:
a. $623.
b. $645.
c. $1,453.
d. $1,505.
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