Question
At May 1, 2018, Bibby Company had beginning inventory consisting of 200 units with a unit cost of $7. During May, the company purchased inventory
At May 1, 2018, Bibby 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. Bibby uses the average cost method.
What is the average cost per unit for May?
What is the value of Bibbys inventory at May 31, 2018?
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Internal Auditing An Integrated Approach
Authors: Richard E. Cascarino
2nd Edition
0702172693, 978-0702172694
