Ending Inventory Under Weighted Average Method
Brandon's Bike Shop began selling a new bicycle model in June. Details of the inventory purchases for this model are shown in the table below:
| Date | Quantity | Cost per bike | |
|---|---|---|---|
| May 10th | 5 | $800 | |
| May 29th | 10 | $900 | |
| June 14th | 15 | $600 |
During the month of June, twenty of these bicycles were sold. What is the value of the remaining inventory at the end of June under the weighted average inventory method?
A
$7,333
B
$6,000
C
$8,503
D
$9,333