At May 1, 2022, Mark Company Had Beginning Inventory Consisting

question 168

Multiple Choice

At May 1, 2022, Mark 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
500 units at $9
The company sold 500 units during the month for $12 per unit. Mark uses the average cost method. Mark's gross profit, to the nearest dollar, for the month of May is

• A) $2,167.
• B) $2,000.
• C) $1,500.
• D) $4,333.

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Definitions:

Immediately After

Occurring directly following a particular event or time.

Negatively Reinforced

Refers to the process of increasing a behavior by removing or avoiding a negative outcome or stimulus.

Positively Reinforced

The process of increasing the likelihood of a behavior by following it with a desirable outcome or reward.

Unpleasant Stimulus

A negative or harmful stimulus that causes discomfort or aversion in an individual.