At May 1, 2020, Crane Company had beginning inventory consisting of 250 units with a unit cost of $4.60. During May, the company purchased inventory as follows: 730 units at $4.60 520 units at $7.00 The company sold 1000 units during the month for $14 per unit. Crane uses the average-cost method. Using three decimals for the unit cost, the value of Crane's inventory at May 31, 2020 is $3215. O $4215. $6432. $2716. As of December 31, 2022, Oriole Company has assets of $41000 and owner's equity of $20200. What are the liabilities for Oriole Company as of December 31, 2022? O $20800. $61200. $41000. O $20200 The income statement for the month of June, 2020 of Concord, Inc. contains the following information: Revenues $6840 Expenses: Salaries and Wages Expense $2900 Rent Expense 1480 Advertising Expense 820 Supplies Expense 320 Insurance Expense 110 Total expenses 5630 Net income $1210 At June 1, 2020, Concord reported owner's equity of $37400. The company had no owner drawings during June. At June 30, 2020, the company will report owner's equity of Crane Company purchased equipment for $9120 on January 1, 2020. The company expects to use the equipment for 4 years. It has no salvage value. Monthly depreciation expense on the asset is $9120. $2280. $0. O $190. At December 31, 2020, before any year-end adjustments, Sheffield Company's Insurance Expense account had a balance of $2640 and its Prepaid Insurance account had a balance of $7940. It was determined that $2740 of the Prepaid Insurance had expired. The adjusted balance for Insurance Expense for the year would be $2740. O $2640 O $5200. O $5380