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Determine the dollar value of ending inventory

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Question - Easton Company uses the periodic inventory system and had the following inventory & sales activity for the month of May 2019:

Date

Unit

Price

5/1 Beginning Inventory

110

$11

5/5 Purchase

260

$13

5/15 Purchase

160

$15

5/25 Purchase

130

$17

Sales were 420 units at $25. Using the FIFO method, determine the dollar value of Ending Inventory for the month of May.

Reference no: EM132819822

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