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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 $11 5/5 Purchase 280 $13 5/15 Purchase 150 $15 5/25 Purchase 140 $17 Sales were 430 units at $25. Using the FIFO method, determine the dollar value of Ending Inventory for the month of May. HINT: Sales price has nothing to do with your answer!
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