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Glenn Company has the following inventory information. July 1 Beginning Inventory 10 units at...

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Accounting

Glenn Company has the following inventory information.

July 1 Beginning Inventory 10 units at $90

5 Purchases 60 units at $92

14 Sale 50 units

21 Purchases 30 units at $95

30 Sale 35 units

Assuming that a perpetual inventory system is used, what is the ending inventory (round all calculations to nearest dollar) under the moving-average cost method?

A. $1,405

  • B.

    $1,391

  • C.

    $1,385

  • D.

    $1,425

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