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Determine the average cost per unit for may

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Question - At May 1, 2013, Kibbee Company had beginning inventory consisting of 100 units with a unit cost of $7. During May, the company purchased inventory as follows:

400 units at $7

300 units at $8

The company sold 500 units during the month for $12 per unit. Kibbee uses the average cost method. Determine the average cost per unit for May?

Reference no: EM133160239

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