Multiple Choice Question 76 At May 1 2018 Coronado Com the c

Multiple Choice Question 76 At May 1, 2018, Coronado Com the company purchased inventory as follows pany had beginning inventory consisting of 230 units with a unit cost of $6.00. During May, 810 units at $6.00 560 units at $7.00 The company sold 840 units during the month for $10 per unit. Coronado uses the average cost method. The v Coronado\'s inventory at May 31, 2018 is alue of $4901. $8302. $3401. $4826 LINK TO TEXT Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER SUBMIT ANSNER

Solution

D. $4,826

Average cost per unit = [(230 × $6) + (810 × $6) + (560 × $7)] ÷ 1,600 = $6.35

The value of Coronado\'s inventory at May 31, 2018 is:

= [($1,600 ? $840) × $6.35] = $4,826