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Alpha Company uses the perpetual inventory system and had the following inventory & sales activity for the month of May 2016: Date Activity QuantityUnit Price

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Alpha Company uses the perpetual inventory system and had the following inventory & sales activity for the month of May 2016: Date Activity QuantityUnit Price 5/1 Beginning Inventory 5/5 Purchase 5/10 Sales 5/15 Purchase 5/20 Sales 5/25 Purchase 150 200 225 300 300 150 $10 $12 $20 $14 $25 $16 Using the LIFO method, determine the dollar values following for the month of May: 1. Ending Inventory 2. Goods Available for Sale 3. Sales 4. Cost of Goods Sold 5. Gross Proft

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