Best writers. Best papers. Let professionals take care of your academic papers

Order a similar paper and get 15% discount on your first order with us
Use the following coupon "FIRST15"
ORDER NOW

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

/in /by

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 140 $10

5/5 Purchase 210 $12

5/15 Purchase 270 $14

5/25 Purchase 280 $16

Sales were 450 units at $20.  Using the FIFO method, determine the dollar value of Cost of Goods Sold for the month of May.Question 11 (8 points)

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 125 $10

5/5 Purchase 250 $12

5/15 Purchase 250 $14

5/25 Purchase 200 $16

Sales were 550 units at $20.  Using the LIFO method, determine the dollar value of Cost of Goods Sold for the month of May.Question 12 (8 points)

Easton Company had average inventory for the year of $640,000 and an inventory turnover ratio of 11.8. What was the company’s Days Outstanding in Inventory. Assume a 365 day year. Round to one decimal place.

Your Answer:

 
Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"