A company uses the periodic inventory system and had the following activity during the current monthly period.
November 1: Beginning inventory 103 Units @ $20
November 5: Purchased 103 Units @ $22
November 8: Purchased 53 Units @ $23
November 16: Sold 138 Units @ $60
November 19: Purchased 30 Units @ $25
Using the weighted-average inventory method, the company's ending inventory would be:
Multiple Choice
$4,029
$3,289
$2,060
$2,810
$1,969
+3
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