Reference no: EM132478974

Alpha Company uses the periodic 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             5/15

Purchase                              300                $13             5/25

Purchase                             150                $15

Sales were 500 units at $20. Using the FIFO method, determine the dollar values following for the month of May:

1. Ending Inventory

2. Cost of Goods Available for Sale

3. Cost of Goods Sold

Question 1: How do figure out ending inventory and the cost of goods sold?