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Discuss kibbee uses the average cost method

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Reference no: EM131798647

At May 1, 2015, 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, 2015 is

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

Reference no: EM131798647

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