Snug-As-A-Bug Blankets Has the Following Inventory Data Assuming That a Perpetual Inventory System Is Used, What Is

question 40

Multiple Choice

Snug-As-A-Bug Blankets has the following inventory data: $$\begin{array} { r l c } \text { July } 1 & \text { Beginning inventory } & 30 \text { units at } \$ 60 \\5 & \text { Purchases } & 180 \text { units at } \$ 56 \\14 & \text { Sale } & 120 \text { units } \\21 & \text { Purchases } & 90 \text { units at } \$ 58 \\30 & \text { Sale } & 84 \text { units }\end{array}$$ Assuming that a perpetual inventory system is used, what is ending inventory (rounded) under the average cost method for July?

• A)$5,500
• B)$5,568
• C)$4,812
• D)$5,544

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