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 160 $12
5/15 purchase 330 $14
5/25 purchase 280 $16
Sales were 430 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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Cambridge IGCSE And O Level Accounting Coursebook
Authors: Catherine Coucom
2nd Edition
1316502775, 978-1316502778
