Koontz Company uses the perpetual inventory method. On January 1, Year 1, the companys first...
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Koontz Company uses the perpetual inventory method. On January 1, Year 1, the companys first day of operations, Koontz purchased 1,250 units of inventory that cost $5.90 each. On January 10, Year 1, the company purchased an additional 1,500 units of inventory that cost $8.10 each. If Koontz uses a weighted average cost flow method and sells 1,400 units of inventory, the amount of inventory appearing on balance sheet following the sale will be approximately: (Round your intermediate calculations to one decimal place.)
Multiple Choice
$9,585.
$9,940.
$11,340.
$7,965.
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