At may 1, 2014, Kibbec ComPany had beginning inventory consisting of 200 unils with a unit cost of $7. During May, the company purchased inventory as follows. 800 units at $7 600 units at $8 The company sold 1.000 units during the month for $12 per unit. Ktbbee uses the average cost method. The value of Kibbee's inventory at May 31, 2014 is a. $3,000. b. $4,425. c. $4,500. d. $7,500. 27. At May 1, 2014, Kibbee Company had beginning inventory consisting of 200 units with a unit cost of $7. During May, the company purchased inventory as follows: 800 units at $7 600 units at $8 The company sold 1,000 units during the month for $12 per unit. Ktbbee uses the average cost method. Kibbce's gross profit for the month of May is a. $4,625. b. $4,571. c. $4,000. d. $4,500