Calculate the Sales Revenue for the entire Month of May

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Question - We dig out the following for Company A for the month of May. The company uses FIFO Date Description Units / $s and the perpetual method of inventory.

May 1 Beg. Inventory 150 units @ $10.00

May 5 Purchase 220 units @ $12.00

May 10 Sale 140 units @ $20.00

May 15 Purchase 100 units @ $13.00

May 24 Sales 90 units @ $21.00

Required - Calculate the following for the entire Month of May:

i. Sales Revenue

ii. Cost of Goods Sold

iii. Gross Profit

iv. Ending Inventory

Reference no: EM133054110

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