1. Easton Company uses the periodic inventory system and had the following inventory & sales activity for the month of May 2019:

Date Activity Quantity Unit Price

5/1 Beginning Inventory 150 10

5/5 Purchase 160 12

5/15 Purchase 320 14

5/25 Purchase 340 16

Sales were 470 units at $20.Using the FIFO method, determine the dollar value of Cost of Goods Sold for the month of May.

2. Easton Company uses the periodic inventory system and had the following inventory & sales activity for the month of May 2019:

Date Activity Quantity Unit Price

5/1 Beginning Inventory 125 10

5/5 Purchase 250 12

5/15 Purchase 220 14

5/25 Purchase 250 16

Sales were 550 units at $20.Using the LIFO method, determine the dollar value of Cost of Goods Sold for the month of May.

3. Dorchester Company had the following balances at the end of 2018 and 2019 respectively:

Net Credit Sales - $1,000,000 for 2018 and $1,002,000 for 2019.

Accounts Receivable - $80,000 for 2018 and $95,000 for 2019.

Allowance for Doubtful Accounts - $5,000 for 2018 and 7,500 for 2019

Calculate the accounts receivable turnover ratio to one decimal place.

4. Baltimore Company uses aging to estimateuncollectibles.At the end of the fiscal year, December 31, 2018, Accounts Receivable has a balance that consists of:

Dollar Value Age of Account Estimated Collectible

180,000 < 30 days old 98%

65,000 30 to 60 days old 89%

35,000 61 to 120 days old 75%

10,000 > 120 days old 15%

The current unadjusted Allowance for UncollectibleAccounts balance is a debit balance of $2,000 and the Bad Debt Expense accounts has an unadjusted balance of zero. After the adjusting entry is made, what will be the dollar balances in theAllowance for Doubtful Accounts?Round to nearest whole dollar.