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Alpha Company uses the periodic inventory system and had the following inventory & sales activity for...

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

150

$10

5/5

Purchase

200

$12

5/15

Purchase

300

$14

5/25

Purchase

150

$16

Sales were 525 units at $20.  Using the LIFO 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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Expert Solution

ekkarill92 answered 2 years ago
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