The weighted average for the year inventory cost flow method is applicable to which of the following inventory systems?

Periodic

Perpetual

A$.$

Yes

Yes

B$.$

No

No

C$.$

Yes

No

D$.$

No

Yes

$$

$$

$0$

January $12$

$1,000$@$$$$2\mathrm{.}00$

$$

$1,000$

March $15$

$$

$300$

$700$

May $5$

$500$ @ $$2\mathrm{.}20$

$$

$1,200$

July $8$

$$

$500$

$700$

November $24$

$1,000$ @ $$1\mathrm{.}65$

$$

$1,700$

Additional information:

The entity had no opening inventory.

The items sold on March $15$ were purchased on January$12.$

The items sold on July $8$ were purchased on May$5.$

Question

The ending inventory balance under the first$-$in$,$ first$-$out $($FIFO$)$ method of inventory valuation is

A$.$$$3,050$

B$.$$$3,150$

C$.$$$3,430$

D$.$$$3,230$