Question
At May 1, 2010, Deitrich Company had beginning inventory consisting of 300 units with a unit cost of $3. During May, the company purchased inventory
At May 1, 2010, Deitrich Company had beginning inventory consisting of 300 units with a unit cost of $3. During May, the company purchased inventory as follows:
| 450 units at $7 |
| 550 units at $9 |
The company sold 890 units during the month for $13 per unit. Deitrich uses the average cost method. Deitrich's gross profit for the month of May is
| A. | $5,408. | |
| B. | $5,358 | |
| C. | $9,000. | |
| D. | $5,428. |
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The Quality Audit A Management Evaluation Tool
Authors: Charles A. Mills
1st Edition
0070424284, 978-0070424289
