Question
Sunny Electronics uses a periodic inventory system. On March 31, Sunny has two plasma TVs on hand at a cost of 111 each (serial numbers
Sunny Electronics uses a periodic inventory system. On March 31, Sunny has two plasma TVs on hand at a cost of 111 each (serial numbers 11534892 and 11534894). In April, the company purchases four more identical TVs from Toshiba for 147 each (serial numbers 11542631 through 11542634). In May, the company purchases five more identical TVs for 97 each (serial numbers 11550964 through 11550968). In June, Sunny sells two of these TVs (serial numbers 11534894 and 11542631). There were no additional purchases or sales during the remainder of the year.
Sunny Electronics uses the Weighted Average Cost method. What is the total cost of its ending inventory?
A.
258
B.
194
C.
1073
D.
1060
E.
1037
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