Question
Easton Company uses the periodic inventory system and had the following inventory & sales activity for the month of May 2019: Date Activity Quantity Unit
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 100 $10
5/5 Purchase 170 $12
5/15 Purchase 250 $14
5/25 Purchase 260 $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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Managerial Accounting
Authors: Ray Garrison, Theresa Libby, Alan Webb
10th Canadian edition
978-1259024900
