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Calculate the dollar value of cost of goods sold

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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              5/1

Beginning Inventory                          150                       $10                       5/5

Purchase                                       225                        $12                       5/15

Purchase                                       220                       $14                         5/25

Purchase                                      250                         $16

Question 1: Sales were 570 units at $20. Using the LIFO method, determine the dollar value of Cost of Goods Sold for the month of May.

Reference no: EM132462706

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