Question 8

Alpha Company uses the periodic inventory system and had the following inventory & sales activity for the month of May 2016:

Date	Activity	Quantity	Unit Price
5/1	Beginning Inventory	150	$10
5/5	Purchase	200	$12
5/15	Purchase	300	$14
5/25	Purchase	150	$16

Sales were 525 units at $20. Using the FIFO method, determine the dollar values following for the month of May:

1. Ending Inventory

2. Cost of Goods Available for Sale

3. Cost of Goods Sold