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The following inventory transactions took place for Sheridan Ltd. for the year ended December 31, 2020: Cost/ Selling Date Event Quantity Price Jan 1

The following inventory transactions took place for Sheridan Ltd. for the year ended December 31, 2020: Cost/ Selling Date Event Quantity Price Jan 1 opening inventory 19,500 $46.50 Jan 5 sale 6,600 73.80 Feb 15 purchase 34,000 44.85 Mar 10 purchase 9,400 50.00 May 20 sale 40,800 73.80 Aug 22 purchase 13,800 41.55 Sep 12 sale 18,200 73.80 Nov. 24 purchase 9,400 47.25 Dec 5 sale 15,800 73.80

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