At May 1, 2011, Deitrich Company Had Beginning Inventory Consisting $€ 3.50$

question 123

Multiple Choice

At May 1, 2011, Deitrich Company had beginning inventory consisting of 100 units with a unit cost of $€ 3.50$ . During May, the company purchased inventory as follows:

200 units at $€ 3.50$
300 units at $€ 4.00$

The company sold 500 units during the month for $€ 6$ per unit. Deitrich uses the average cost method. The value of Deitrich's inventory at May 31, 2011 is

• A)€ 350 .
• B) € 375 .
• C) € 400 .
• D) € 2,250 .

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Definitions:

Sellers/Lessors

Sellers or lessors are individuals or entities that provide goods or property for sale or lease to buyers or lessees, respectively.

Buyers/Lessees

Individuals or entities that purchase or lease goods and services.

Specific Performance

A legal remedy requiring a party to execute a contract according to its precise terms.

Seller

An individual or entity that offers goods or services for sale to a buyer in exchange for compensation.