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On May 1, Crane Company had beginning inventory consisting of 378 units with a unit cost of $9. During May, the company purchased inventory as
On May 1, Crane Company had beginning inventory consisting of 378 units with a unit cost of $9. During May, the company purchased inventory as follows: 756 units at $9 1134 units at $10 The company sold 1890 units during the month for $15 per unit. Crane uses the average-cost method. Assuming that a periodic inventory system is used, the cost of Crane's inventory at May 31 is (Round average cost per unit to 2 decimal places, e.g. 12.52.)
$3780 $3402 $21546 $3591
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