Solution-Determine the dollar value of cost of goods sold

Determine the dollar value of cost of goods sold

Reference no: EM132241030

Question - 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 150 $10

5/5 Purchase 220 $12

5/15 Purchase 340 $14

5/25 Purchase 330 $16

Sales were 440 units at $20. Using the FIFO method, determine the dollar value of Cost of Goods Sold for the month of May.

Reference no: EM132241030

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Determine the dollar value of cost of goods sold

Reference no: EM132241030

Reference no: EM132241030

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