Question: Current Attempt in Progress X Your answer is incorrect. The following inventory transactions took place for Sheridan Corporation for the month of May: Date Event

Current Attempt in Progress X Your answer is incorrect. The following

Current Attempt in Progress X Your answer is incorrect. The following inventory transactions took place for Sheridan Corporation for the month of May: Date Event May 1 beginning inventory May 5 purchase May 10 purchase May 15 sale May 20 sale May 22 purchase May 24 purchase May 25 sale Cost/ Selling Quantity Price 2,000 $3.30 4,920 3.50 3,970 3.60 5,980 6.50 2,080 6.50 4,100 3.80 1,990 3.80 5,920 6.50 Calculate the ending inventory balance for Sheridan Corporation, assuming the company uses a perpetual inventory system and the first-in, first-out (FIFO) cost formula. $ 8047 Ending inventory

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