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At May 1, 2018, Kibbee Company Had Beginning Inventory Consisting

Question 220

Multiple Choice

At May 1, 2018, Kibbee 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. Kibbee uses the average cost method. The value of Kibbee's inventory at May 31, 2018 is


A) $3,000.
B) $4,425.
C) $4,500.
D) $7,500.

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