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

question 47

Multiple Choice

At May 1, 2022, Kibbee Company had beginning inventory consisting of 200 units with a unit cost of $7.During May, the company purchased inventory as follows: The company sold 1,000 units during the month for $12 per unit.Kibbee uses the average cost method.The weighted-average cost per unit for May is

• A)$7.000.
• B)$7.375.
• C)$7.500.
• D)$8.000.

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Definitions:

Sleep

A natural periodic state of rest for the mind and body, during which consciousness is altered and sensory activity is reduced.

Large Meal

A large meal consists of a substantial amount of food, typically more than the average serving size, often consumed during special occasions or gatherings.

High Affluence

A state of having a great deal of wealth, resources, or assets, often associated with high social status or economic power.

Low Affluence

Describes a state or condition where there are minimal financial resources or wealth.