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Determine the dollar value for ending inventory at the end

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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                 $11.00

5/5     Purchase                  200                 $12.50

5/10   Sales                       300                  $25

5/15   Purchase                  200                  $13.00

5/20   Sales                      250                   $28

5/25  Purchase                  150                   $12.50

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

The response paper should be in APA format, double spaced, hand-written, numbered pages, with a cover page and references.

Reference no: EM132344839

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