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

/in /by

Alpha Company uses the perpetual inventory system and had the following inventory and sales 

activity for the month of May 2016:

Date Activity Quantity Unit Price

5/1 Beginning inventory 100 $10

5/5 Purchase 200 $11

5/10 Sales 300 $25

5/15 Purchase 200 $13

5/20 Sales 150 $35

5/25 Purchase 150 $15

Using the LIFO method, determine the dollar values following for the month of May:

1.       Ending inventory

2.       Goods Available for Sale

3.       Sales

4.       Cost of Goods Sold

5.       Gross Profit

1. _________________

2. _________________

3. _________________

4. _________________

5._________________

 
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