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Determine dollar value of cost of goods sold for the month

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

DateActivity                      Quantity                            Unit Price             5/1

Beginning Inventory              125                                   $10                   5/5

Purchase                            200                                     $12                 5/15

Purchase                            210                                     $14                 5/25

Purchase                            250                                     $16

Question 1: Sales were 580 units at $20. Using the LIFO method, determine the dollar value of Cost of Goods Sold for the month of May.

Reference no: EM132462475

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