JAMB Principles of Accounts 2003 Question 18

Use the information below to answer questions 18 and 19.
Date — Details
Feb 1 Purchased 400 units at ₦1.00 each
Feb 5 Purchased 200 units at ₦2.00 each
Feb 10 Purchased 200 units at ₦3.00 each
Feb 15 Issued 320 units
Feb 20 Purchased 200 units at ₦4.00 each
Feb 25 Issued 120 units
Calculate the price per unit of closing stock using the periodic weighted average method.

1. A.₦3.20
2. B.₦3.00
3. C.₦2.20
4. D.₦2.00