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Determine the dollar value for Ending Inventory

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Question - Salisbury Company uses the perpetual inventory system and had the following inventory & sales activity for the month of May 2019:

Date/ Activity/ Quantity Unit Price

5/1/ Beginning Inventory/ 175/ $10.50

5/5/ Purchase/ 200/ $11.00

5/10/ Sales/ 300/ $25

5/15/ Purchase/ 200/ $12.50

5/20/ Sales/ 250/ $28

5/25/ Purchase/ 150/ $13.50

Required - Using the LIFO method, determine the dollar value for Ending Inventory at the end of month of May. Round to the nearest cent.

Reference no: EM132612051

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