QUESTION ANSWER $487.50 Stilton Company began May with 20 units of inventory that cost a total of $300. During May, Stilton purchased and sold goods as follows. $450.00 May 5 Purchased 30 units at $10 $400.00 14 Sold 10 units at $25 22 Purchased 25 units at $11.50 27 Sold 20 units at $30 Calculate the cost of goods sold amount using the FIFO method assuming Stilton uses a periodic inventory system. $887.50 I DON'T KNOW YET