Alphabet Company,which Uses the Periodic Inventory Method,buys Different Letters for Resale.It

question 77

Multiple Choice

Alphabet Company,which uses the periodic inventory method,buys different letters for resale.It buys A through G in January at $4 per letter.It buys H through L at $6 per letter.It buys M through R in March at $7 per letter.It sells A,D,E,H,J and N in April. If the company uses the weighted average method,what is the cost of its ending inventory (rounded to the nearest dollar) ?

• A)$38
• B)$48
• C)$67
• D)$75

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