A company had inventory on November 1 of 5 units at a cost of $20 each. On November 2, the company purchased 10 units at $22 each. On November 5, the company sold 8 units for $55 each. On November 6, the company purchased 6 units at $25 each. The company uses a perpetual inventory system. Using the weighted average method, what is the value of the ending inventory on November 30? (Round each per unit cost to 2 decimal places and then round your answer to the nearest whole dollar.)
A. $304
B. $280
C. $299
D. $404
Answer: C
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Indicate whether the statement is true or false