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There was no beginning inventory if the company uses the

Question - A company made the following merchandise purchases and sales during the month of May:

May 1 purchased 380 units at $15 each

May 5 Purchased 270 units at $17 each

May 10 Sold 400 units sold $50 each

May 20 purchased 300 units at $22 each

May 25 sold 400 units at $50 each

There was no beginning inventory. If the company uses the FIFO periodic inventory method, what would be the cost of the ending inventory?

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Accounting Basics: There was no beginning inventory if the company uses the

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