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Determine the sales dollar values for the month of may

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Reference no: EM131744998

Question - Alpha Company uses the perpetual inventory system and had the following inventory & sales activity for the month of May 2016:

Date

Activity

Quantity

Unit Price

5/1

Beginning Inventory

100

$10

5/5

Purchase

200

$11

5/10

Sales

200

$25

5/15

Purchase

300

$13

5/20

Sales

300

$35

5/25

Purchase

150

$15

Using the LIFO method, determine the dollar values following for the month of May:

1. Ending Inventory

2. Goods Available for Sale

3. Sales

4. Cost of Goods Sold

5. Gross Profit

Reference no: EM131744998

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