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Alpha Company uses the periodic inventory system and had the following inventory & sales activity for the month of May 2016: (Round all per unit

Alpha Company uses the periodic inventory system and had the following inventory & sales activity for the month of May 2016: (Round all per unit calculations to the nearest penny.)

Date

Activity

Quantity

Unit Price

May 1

Beginning Inventory

100

$10.10

May 5

Purchase

200

$11.00

May 15

Purchase

300

$13.00

May 25

Purchase

150

$15.00

Sales were 500 units at $20.00. Using weighted-average method, determine the dollar values following for the month of May: (Enter only whole dollar values.)

1. Ending Inventory

2. Cost of Goods Available for Sale

3. Cost of Goods Sold

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