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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 1-May Beginning Inventory 120 $11 5-May Purchase 270 $13 15-May Purchase 140 $15 25-May Purchase 140 $17 Sales were 460 units at $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
1-May Beginning Inventory 120 $11
5-May Purchase 270 $13
15-May Purchase 140 $15
25-May Purchase 140 $17
- Sales were 460 units at $25. Using the FIFO method, determine the dollar value of Ending Inventory for the month of May.
- Sales were 440 units at $25. Using the Weighted Average method, determine the dollar value of Cost of Goods Sold for the month of May.
- Sales were 430 units at $25. Using the Weighted Average method, determine the dollar value of Ending Inventory for the month of May.
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