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Use this information to answer the questions that follow. The following lots of Commodity P were available for sale during the year. Beginning inventory First

Use this information to answer the questions that follow.
The following lots of Commodity P were available for sale during the year.
Beginning inventory
First purchase
Second purchase
Third purchase
5 units at $61
15 units at $63
10 units at $74
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?
a. $1,375
b. $1,510
c. $1,380
d. $1,250
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