ton Company uses the periodic inventory system and had the following inventory &
ton 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 150 $10
5/5 Purchase 160 $12
5/15 Purchase 320 $14
5/25 Purchase 340 $16
Sales were 470 units at $20. Using the FIFO method, determine the dollar value of Cost of Goods Sold for the month of May.
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