At May 1, 2016, Bramble Company had beginning inventory consisting of 220 units with a unit cost of $4.30. During May, the company purchased inventory as follows: 700 units at $4.30 580 aunits at $7.00 The company sold 1000 units during the month for $12 per unit. Bramble uses the average cost method. Bramble's gross profit for the month of May is $6656. $6031. O $6602. O $6531.

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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At May 1, 2016, Bramble Company had beginning inventory consisting of 220 units with a unit cost of $4.30. During May,
the company purchased inventory as follows:
700 units at $4.30
580 aunits at $7.00
The company sold 1000 units during the month for $12 per unit. Bramble uses the average cost method. Bramble's gross
profit for the month of May is
$6656.
$6031.
$6602.
$6531.
Transcribed Image Text:At May 1, 2016, Bramble Company had beginning inventory consisting of 220 units with a unit cost of $4.30. During May, the company purchased inventory as follows: 700 units at $4.30 580 aunits at $7.00 The company sold 1000 units during the month for $12 per unit. Bramble uses the average cost method. Bramble's gross profit for the month of May is $6656. $6031. $6602. $6531.
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