Easton Company uses the periodic inventory system and had the following
Easton Company uses the periodic inventory system and had the following
inventory & sales activity for the month of May 2019:
Date……………Activity………………Quantity…………..Unit Price
5/1………Beginning Inventory……..100………………….$10
5/5…………….Purchase………………200………………….$12
5/15…………..Purchase……………….220………………..$14
5/25…………..Purchase………………225………………….$16
Sales were 540 units at $20. Using the LIFO method, determine the dollar value of Cost of Goods Sold for the month of May.
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