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Question - Salisbury Company uses the perpetual inventory system and had the following inventory & sales activity for the month of May 2019:
Date Activity Quantity Unit Price
5/1 Beginning Inventory 175 $11.00
5/5 Purchase 200 $10.50
5/10 Sales 300 $25
5/15 Purchase 200 $12.50
5/20 Sales 250 $28
5/25 Purchase 150 $13.50
Using the LIFO method, find the dollar value for Ending Inventory at the end of month of May.
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