Question 1(10 points)

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 360 $13

5/15 Purchase 180 $15

5/25 Purchase 140 $17

Sales were 490 units at $25.Using the FIFO method, determine the dollar value of Ending Inventory for the month of May.

Question 2(10 points)

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 $11

5/5 Purchase 160 $13

5/15 Purchase 340 $15

5/25 Purchase 300 $17

Sales were 420 units at $25.Using the Weighted Average method, determine the dollar value of Cost of Goods Sold for the month of May.

Question 3(10 points)

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 120 $11

5/5 Purchase 130 $13

5/15 Purchase 360 $15

5/25 Purchase 290 $17

Sales were 440 units at $25.Using the Weighted Average method, determine the dollar value of Ending Inventory for the month of May.