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Sales were 545 units at 25 using the fifo method determine

Question - 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 175 $10

5/5 Purchase 200 $12

5/15 Purchase 300 $15

5/25 Purchase 150 $16

Sales were 545 units at $25. 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

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Accounting Basics: Sales were 545 units at 25 using the fifo method determine

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Accounting Basics: Sales were 545 units at 25 using the fifo method determine

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