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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 110 $10
5/5. Purchase 150 $12
5/15. Purchase 330 $14
5/25. Purchase 270 $16
Required - Sales were 420 units at $20. Using the FIFO method, determine the dollar value of Cost of Goods Sold for the month of May.
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the cost of goods sold includes 2575000 of fixed manufacturing overhead the operating expenses include 270000 of fixed
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