Hardware Inc. has a periodic inventory system and uses the weighted average method. The company began the year with 150 large brass switch plates on hand at a cost of $4.00 each. Purchases of switch plates during the year were as follows:  Date of TransactionQuantity ReceivedUnit CostMay 7200$4.20 June 11200$4.40 November 22250$4.80 The switch plates sell for $7.00 each. If Hardware sells 570 switch plates during the year, what is the company's cost of goods sold?

A. $2,560
B. $2,508
C. $2,480
D. $3,990


Answer: B

Business

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