Multiple Choice Question 99

The following information was available from the inventory records of Rich Company for January:

Units Unit Cost Total Cost

Balance at January 1 3,000 $9.77 $29,310

Purchases:

January 6 2,000 $10.30 $20,600

January 26 2,700 $10.71 $28,917

Sales: January 7 (2,500 )

January 31 (3,700 )

Balance at January 31 1,500

Assuming that Rich maintains perpetual inventory records, what should be the inventory at January 31, using the moving-average inventory method, rounded to the nearest dollar?

a) $15,540.

b) $15,390.

c)$15,757.

d)$15,356.