had beginning inventory consisting of 230 units with a unit cost of $5. During May, the company purchased inventory as follows: 470 units at $5 700...
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1) At May 1, 2022, Marigold Corp. had beginning inventory consisting of 230 units with a unit cost of $5. During May, the company purchased inventory as follows:


▪ 470 units at $5

▪ 700 units at $6

The company sold 1170 units during the month for $9 per unit. Marigold Corp. uses the average cost method. The value of Marigold Corp.'s inventory at May 31, 2022 is (Round average cost per unit to 2 decimal places, e.g. 12.52.)


2) The manager of Ayayai is given a bonus based on net income before taxes. The net income after taxes is $54950 for FIFO and $46200 for LIFO. The tax rate is 30%. The bonus rate is 20%. How much higher is the manager's bonus if FIFO is adopted instead of LIFO?

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