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Question 7 Alpha Company uses the periodic inventory system

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Question 7 <br/>Alpha Company uses the periodic inventory system and

had the following inventory &amp; sales activity for the month of May 2016:

Date
Activity
Quantity
Unit Price
5/1
Beginning Inventory
175
$10
5/5
Purchase
200
$12
5/15
Purchase
300
$15
5/25
Purchase
150
$16
Sales were 545 units at $25. Using the LIFO method, determine the dollar values following for the month of May:
1. Ending Inventory
2. Cost of Goods Available for Sale
3. Cost of Goods Sold

 
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