Question
60. At May 1, 2017, Vaughn Manufacturing had beginning inventory consisting of 310 units with a unit cost of $7.0. During May, the company purchased
60.
At May 1, 2017, Vaughn Manufacturing had beginning inventory consisting of 310 units with a unit cost of $7.0. During May, the company purchased inventory as follows: 610 units at $7.0 920 units at $8.0 The company sold 1530 units during the month for $12.0 per unit. Vaughn Manufacturing uses the average cost method. The value of Vaughn Manufacturing's inventory at May 31, 2017 is
$2170.
$2325.
$13800.
$2480.
61. At May 1, 2017, Blue Spruce Corp. had beginning inventory consisting of 350 units with a unit cost of $8.0. During May, the company purchased inventory as follows: 700 units at $8.0 1040 units at $9.0 The company sold 1740 units during the month for $14.0 per unit. Blue Spruce Corp. uses the average cost method. Blue Spruce Corp.'s gross profit for the month of May is
$24360.
$14790.
$9570.
$17760.
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