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On May 1, Sheridan Company had beginning inventory consisting of 276 units with a unit cost of $6. During May, the company purchased inventory
On May 1, Sheridan Company had beginning inventory consisting of 276 units with a unit cost of $6. During May, the company purchased inventory as follows: 552 units at $6 828 units at $7 The company sold 1380 units during the month for $10 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.) $10764 O $1794 $1656 $1932
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