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Question: At May 1, 2022, Sheridan Company had beginning inventory consisting of 250 units with a unit cost of $6. During May, the company purchased inventory as follows:
? 500 units at $6
? 760 units at $7
The company sold 1260 units during the month for $10 per unit. Sheridan Company uses the average cost method. The value of Sheridan Company's inventory at May 31, 2022 is (Round average cost per unit to 2 decimal places, e.g. 12.52.)
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