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What is ending inventory on December

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Question - For 20X1, MacFarland Inc.'s units on hand on January 1 had a unit cost of $14. MacFarland shows the following data for 20X1:

Date

Purchases

Sales

Units on hand

January 1

 

 

40

February 2

60 units @ $15 each

 

 

March 3

 

70 units

 

May 12

90 units @ $16 each

 

 

June 22

 

55 units

 

Sept. 13

75 units @ $18

 

 

November 24

 

60 units

 

If MacFarland uses moving-average costing, what is ending inventory on December 31?

a. $1,015

b. $1,283

c. $1,307

d. $1,353

Reference no: EM132479108

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