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Question - At May 1, 2022, Tamarisk, Inc. had beginning inventory consisting of 310 units with a unit cost of $7. During May, the company purchased inventory as follows:
620 units at $7
940 units at $8
The company sold 1560 units during the month for $12 per unit. Tamarisk, Inc. uses the average cost method. Compute the value of Tamarisk, Inc.'s inventory at May 31, 2022?
a. $2480.
b. $2325.
c. $2170.
d. $14030.
Mr. A received like kind equipment worth $650,000 plus additional cash boot. How much gain or loss did Mr. A REALIZE on this exchange
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