Mathematics, 10.06.2020 18:57 espiritu7470

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

Activity

Quantity

Unit Price

5/1

Beginning Inventory

100

$10

5/5

Purchase

200

$11

5/15

Purchase

300

$13

5/25

Purchase

150

$15

Sales were 500 units at $20. Using the FIFO 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

Answers: 1

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Alpha Company uses the periodic inventory system and had the following inventory & sales activit...