At May 1, 2017, Cheyenne Corp. had beginning inventory consisting of 260 units with a...
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At May 1, 2017, Cheyenne Corp. had beginning inventory consisting of 260 units with a unit cost of $6. During May, the company purchased inventory as follows: 530 units at $6 790 units at $7 The company sold 1320 units during the month for $11 per unit. Cheyenne Corp. uses the average cost method. Cheyenne Corp.'s gross profit for the month of May is
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