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 100 $10

5/5 Purchase 200 $12

5/15 Purchase 240 $14

5/25 Purchase 225 $16

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: EM132779822

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