at Tools Add-ons Help All changes saved in Drive mal text Arial 11 BIUA EEE 2 5 For companies that use a perpetual inventory system, all of the following are purposes for taking a physical inventory except a. to check the accuracy of the records. b. to determine the amount of wasted raw materials. c. to determine losses due to employee theft. d. to determine ownership of the goods. 21. At May 1, 2012, Kibbee Company had beginning inventory consisting of 22. 100 units with a unit cost of $7. During May, the company purchased inventory as follows: units at $7 300 units at $8 The company sold 500 units during the month for $12 per unit. Kibbee uses the average cost method. The average cost per unit for May is a. $7.000. b. $7.375. c. $7.500. d. $8.000. 23. Effie Company uses a periodic inventory system. Details for the inventory