Question 10: 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 140 $10

5/5 Purchase 160 $12

5/15 Purchase 270 $14

5/25 Purchase 340 $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.

Question 11: 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 150 $10

5/5 Purchase 250 $12

5/15 Purchase 230 $14

5/25 Purchase 200 $16

Sales were 580 units at $20.Using the LIFO method, determine the dollar value of Cost of Goods Sold for the month of May.

Question 12: Easton Company had average inventory for the year of $640,000 and an inventory turnover ratio of 11.1.What was the company's Days Outstanding in Inventory.Assume a 365 day year.Round to one decimal place.