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Use the following information for questions 15 and 18. The following information was available from the inventory records of Rich Company for January: Units 3,000
Use the following information for questions 15 and 18. The following information was available from the inventory records of Rich Company for January: Units 3,000 Unit Cost Total Cost $9.77$29,310 Balance at January 1 Purchases: January 6 January 26 2,000 2,700 10.30 20,600 10.7128,917 Sales: January 7 January 31 Balance at January 31 (2,500) (4,000) 1,200 15. Assuming that Rich uses periodic inventory system, what should be the inventory at Januan 31, using the weighted-average inventory method, rounded to the nearest dollar? A. $12,606. B. $12,285 C. $12,312. D. $12,432
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