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At May 1, 2015, Kibbee Company had beginning inventory consisting of 200 units with a unit cost of $7. During May, the company purchased inventory
At May 1, 2015, 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. Kibbee uses the average cost method. The value of Kibbee
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