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Determine the dollar value of Ending Inventory for May

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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 360 $13

5/15 Purchase 180 $15

5/25 Purchase 140 $17

Sales were 490 units at $25. Using the FIFO method, determine the dollar value of Ending Inventory for the month of May.

Reference no: EM132858155

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