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Easton Company uses the periodic inventory system and had the following inventory & sales activity for the month of May 2019: 5/1 Beginning Inventory QTY:
Easton Company uses the periodic inventory system and had the following inventory & sales activity for the month of May 2019:
5/1 Beginning Inventory QTY: 100 Unit Price: $10
5/5 Purchase QTY: $190 Unit Price: $12
5/15 Purchase QTY: $260 Unit Price: $14
5/25 Purchase QTY: $280 Unit Price: $16 Sales were 460 units at $20.
Using the FIFO method, determine the dollar value of Cost of Goods Sold for the month of May.
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