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 130 $10
5/5 Purchase 190 $12
5/15 Purchase 310 $14
5/25 Purchase 340 $16
Sales were 440 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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Food And Beverage Cost Control
Authors: Lea R. Dopson, David K. Hayes, Jack E. Miller
4th Edition
0471694177, 978-0471694175
