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Cobb, Inc.’s inventory at May 1 consisted of 200 units at a total cost of $1,250. Cobb uses the periodic inventory method. Purchases for the month were as follows:
Date            No. of Units       Unit cost               Total Cost
May 4               20                     $5.80                          $116.00
May 17             80                     $5.50                          $440.00
Cobb sold 10 units on May 14 for $120. What is Cobb’s weighted average cost of goods sold for May?
A.$60.20
B.$62.10
C.$62.50
D.$65.00

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