Question
Easton Company uses the periodic inventory system and had the following inventory & sales activity for the month of May 2019: Date A ctivity Quantity
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 130 $11
5/5 Purchase 280 $13
5/15 Purchase 170 $15
5/25 Purchase 140 $17
Sales were 440 units at $25.Using the FIFO method, determine the dollar value of Ending Inventory for the month of May.
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Survey Of Accounting
Authors: Thomas Edmonds, Philip Olds, Frances McNair, Bor-Yi Tsay
1st Edition
0073526770, 9780073526775
