Kitchen Company uses the perpetual inventory method. On January 1, 2013, the company's first day of operations, Kitchen purchased 400 units of inventory that cost $2.50 each. On January 10, 2013, the company purchased an additional 600 units of inventory that cost $3.00 each. If Kitchen uses a weighted average cost flow method and sells 550 units of inventory, the amount of inventory appearing on balance sheet following the sale will be approximately:
A) $1,540.
B) $1,513.
C) $1,260.
D) $1,238.
Correct Answer:
Verified
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