Question: Assuming that a periodic inventory system is used, the value of Cranes's inventory at May 31 is what? On May 1, Crane Company had beginning

Assuming that a periodic inventory system is used, the value of Cranes's inventory at May 31 is what?

On May 1, Crane Company had beginning inventory consisting of 244 units with a unit cost of $5. During May, the company purchased inventory as follows: 492 units at $5 738 units at $& The company sold 1230 units during the month for $9 per unit. Crane uses the average-cost method. Assuming that a periodic inventory system is used, the value of Crane's inventory at May 31 is (Round average cost per unit to 2 decimal places, e.g. 12.52.) O $1230 O 31476 O $1353 0 $8118

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