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On May 1, Sheridan Company had beginning inventory consisting of 342 units with a unit cost of $8. During May, the company purchased inventory as
On May 1, Sheridan Company had beginning inventory consisting of 342 units with a unit cost of $8. During May, the company purchased inventory as follows: 684 units at $8 1026 units at $9 The company sold 1710 units during the month for $13 per unit. Sheridan uses the average-cost method. Assuming that a periodic inventory system is used, the cost of Sheridan's inventory at May 31 is (Round average cost per unit to 2 decimal places, e.g. 12.52.) $2907$3078$2736$17442
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