The following lots of Commodity P were available for sale during the year. Beginning inventory 5 units at $61 First purchase 15 units at $63 Second purchase 10 units at $74 Third purchase 10 units at $77 The firm uses the periodic inventory system, and there are 20 units of the commodity on hand at the end of the year. What is the cost of goods sold for the year using the weighted average cost method? O a. $1,510 O b. $1,380 c. $1,375 O d. $1,250

The following lots of Commodity P were available for sale during the year. The firm uses the periodic inventory system, and there are 20 units of the commodity on hand at the end of the year. What is the cost of goods sold for the year using the weighted average cost method? a. $1,510 b. $1,380 c. $1,375 d. $1,250