Question: Looking for explanation on how to get the answer Question 8 (15 points) Alpha Company uses the periodic inventory system and had the following inventory

Looking for explanation on how to get the answer

Question 8 (15 points) 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

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