Alpha Company uses the periodic inventory system and had the following inventory &
Alpha Company uses the periodic inventory system and had the following
inventory & sales activity for the month of May 2016: (Round all per unit calculations to the nearest penny.)
Date
Activity
Quantity
Unit Price
May 1
Beginning Inventory
100
$10.10
May 5
Purchase
200
$11.00
May 15
Purchase
300
$13.00
May 25
Purchase
150
$15.00
Sales were 500 units at $20.00. Using weighted-average method, determine the dollar values following for the month of May: (Enter only whole dollar values.)
1. Ending Inventory
2. Cost of Goods Available for Sale
3. Cost of Goods Sold