At May 1, 2022, Ayayai Corp. had beginning inventory consisting of 280 units with a unit cost of $7. During May, the company purchased inventory as follows: ▪ 560 units at $7 ▪ 850 units at $8 The company sold 1410 units during the month for $11 per unit. Ayayai Corp. uses the average cost method. The value of Ayayai Corp.'s inventory at May 31, 2022 is (Round average cost per unit to 2 decimal places, e.g. 12.52.) $1960. $2240. $2100. $12680.
At May 1, 2022, Ayayai Corp. had beginning inventory consisting of 280 units with a unit cost of $7. During May, the company purchased inventory as follows: ▪ 560 units at $7 ▪ 850 units at $8 The company sold 1410 units during the month for $11 per unit. Ayayai Corp. uses the average cost method. The value of Ayayai Corp.'s inventory at May 31, 2022 is (Round average cost per unit to 2 decimal places, e.g. 12.52.) $1960. $2240. $2100. $12680.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 3RE: Reid Company uses the periodic inventory system. On January 1, it had an inventory balance of...
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At May 1, 2022, Ayayai Corp. had beginning inventory consisting of 280 units with a unit cost of $7. During May, the company purchased inventory as follows:
▪ 560 units at $7
▪ 850 units at $8
The company sold 1410 units during the month for $11 per unit. Ayayai Corp. uses the average cost method. The value of Ayayai Corp.'s inventory at May 31, 2022 is (Round average cost per unit to 2 decimal places, e.g. 12.52.)
▪ 560 units at $7
▪ 850 units at $8
The company sold 1410 units during the month for $11 per unit. Ayayai Corp. uses the average cost method. The value of Ayayai Corp.'s inventory at May 31, 2022 is (Round average cost per unit to 2 decimal places, e.g. 12.52.)
$1960.
$2240.
$2100.
$12680.
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