Abccompany employs a periodic inventory system and sells

Reference no: EM13615077

ABCCompany employs a periodic inventory system and sells its inventoryto customers for $25 per unit. ABC Company had the following inventory information availablefor the month of May:

May1 Beginning inventory 5,000 units @ $9 cost perunit

May6 Purchased 4,000 units @ $11 cost per unit

May8 Sold 3,000 units

May13 Purchased 2,000 units @ $5 cost per unit

May18 Sold 2,500 units

May21 Purchased 2,500 units @ $8 cost per unit

May28 Sold 1,800 units

May30 Purchased 2,000 units @ $18 cost per unit

Calculatethe dollar amount of ending inventory shown on ABCCompany's May 31 balance sheet using

Reference no: EM13615077

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