Easton Company uses the periodic inventory system and had the following inventory & sales activity for...

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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 120 $11 5/5 Purchase 270 $13 5/15 Purchase 170 $15 5/25 Purchase 140 $17 Sales were 490 units at $25. Using the FIFO method, determine the dollar value of Ending Inventory for the month of May. HINT: Ignore the Sales price of $25. 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 120 $11 5/5 Purchase 270 $13 5/15 Purchase 170 $15 5/25 Purchase 140 $17 Sales were 490 units at $25. Using the FIFO method, determine the dollar value of Ending Inventory for the month of May. HINT: Ignore the Sales price of $25.

Answer rating: 100% (QA)

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