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Alphabet Company, which uses a periodic inventory system, buys different letters for resale. It buys...

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Alphabet Company, which uses a periodic inventory system, buys different letters for resale. It buys A through G in January at $4 per letter. It buys H through L at $6 per letter. It buys M through R in March at $7 per letter. It sells A, D, E, H, J and N in April. If the company uses the weighted average inventory costing method, what is the cost of its ending inventory? Multiple Choice $38 $75 O $67 $48 O

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