Alpha Company uses the periodic inventory system and had the following inventory & sales activity for the month of May 2016:
Sales were 545 units at $25. 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
Assuming that perpetual inventory records are kept in dollars, the ending inventory on a LIFO basis is?
Transactions for the month of June are attached as a screen shot.
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