ReadersCom Uses a Perpetual Inventory System and Has the Following

question 61

Multiple Choice

Readers.com uses a perpetual inventory system and has the following data for the month of February: If Readers.com uses the moving average method,how much is ending inventory on February 28?
$$\begin{array} { r l r } \text { Feb. } 1 & \text { On hand, } 30 \text { units } @ \$ 5.00 \text { each } & \$ 150 \\8 & \text { Purchased 40 units } @ \$ 5.35 \text { each } & 214 \\15 & \text { Sold } 50 \text { units } & \\22 & \text { Purchased } 40 \text { units } @ \$ 5.20 \text { each } & 208 \\28 & \text { On hand, 60 units } &\end{array}$$

• A)$300
• B)$306
• C)$312
• D)$318

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Definitions:

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