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Determine the dollar value of ending inventory

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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     130                    $11
5/5                     Purchase                 280                   $13
5/15                   Purchase                   170                $15
5/25                 Purchase                      140                  $17

Problem 1: Sales were 440 units at $25. Using the FIFO method, determine the dollar value of Ending Inventory for the month of May.

Reference no: EM132824524

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