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Metrus Limited, which uses the periodic inventory system, had the following transactions this past February:...

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Accounting

Metrus Limited, which uses the periodic inventory system, had the following transactions this past February: Purchases Feb 1 (Balance): 400 @ $3.20 Feb 3: 1,100 @ $3.10 Feb 7: 600 @ $3.30 Feb 15: 900 @ $3.40 Feb 22: 250 @ $3.50 Sales Feb 2: 300 @ $5.50 Feb 6: 800 @ $5.50 Feb 9: 500 @ $5.50 Feb 10: 200 @ $6.00 Feb 18: 700 @ $6.00 Feb 25: 150 @ $6.00 On a weighted average cost basis, the ending inventory is:

a.

$1,980

b.

$1,970

c.

$2,065

d.

$1,956

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