Nolvo Company Uses the Periodic Inventory System

question 225

Multiple Choice

Nolvo Company uses the periodic inventory system. For February 2014, the beginning inventory consisted of 400 units that cost CHF65 each. During the month, the company made two purchases: 1,600 units at CHF68 each and 600 units at CHF72 each. Nolvo sold 2,000 units during the month of February at CHF110 per unit. Using the average cost method, what is the amount of ending inventory at February 28, 2014?

• A) CHF43,200.
• B) CHF42,000.
• C) CHF41,076.
• D) CHF39,000.

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