Monarch Company Uses a Weighted-Average Perpetual Inventory System, and Has

question 13

Multiple Choice

Monarch Company uses a weighted-average perpetual inventory system, and has the following purchases and sales: $$\begin{array} { | l | l | } \hline \text { January 1 } & 20 \text { units were purchased at } \$ 10 \text { per unit. } \\\hline \text { January } 12 & 12 \text { units were sold. } \\\hline \text { January 20 } & 18 \text { units were purchased at } \$ 11 \text { per unit. } \\\hline\end{array}$$ What is the value of ending inventory? (Round average cost per unit to 2 decimal places, and final answer to the nearest dollar.)

• A)$272.
• B)$120.
• C)$278.
• D)$398.
• E)$126.