40 of estion At May 1, 2016, Bibby Company had beginning inventory consisting of 200 units with a unit cost of $9. During May, the company purchased inventory as follows: 800 units at $9 600 units at $10 The company sold 1,000 units during the month for $12 per unit. Bibby uses the average cost method. The cost of goods sold for May is Select one: a. $7,000. b. $9,375. C: $8,000. O d. $7,375