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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 130 $11
5/5 Purchase 260 $13
5/15 Purchase 150 $15
5/25 Purchase 160 $17
Sales were 430 units at $25. Using the FIFO method, determine the dollar value of Ending Inventory for the month of May.
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