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Determine the dollar value of cost of goods sold

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Question - 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

200

$14

5/25

Purchase

225

$16

Sales were 560 units at $20.  Using the LIFO method, determine the dollar value of Cost of Goods Sold for the month of May.

Reference no: EM132436057

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