A Company Made the Following Merchandise Purchases and Sales During

question 158

Essay

A company made the following merchandise purchases and sales during the month of May:
$$\begin{array} {| l | l | l | l | } \hline \text { May 1 } & \text { Purchased } & 380 \text { units at } & \$ 15 \text { each } \\\hline \text { May 5 } & \text { Purchased } & 270 \text { units at } & \$ 17 \text { each } \\\hline \text { May 10 } & \text { Sold } & 400 \text { units at } & \$ 50 \text { each } \\\hline \text { May 20 } & \text { Purchased } & 300 \text { units at } & \$ 22 \text { each } \\\hline \text { May 25 } & \text { Sold } & 400 \text { units at } & \$ 50 \text { each } \\\hline\end{array}$$
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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Definitions:

Cognitive Development Theory

A psychological theory that describes how human beings acquire, construct, and use knowledge as they grow and develop.

Gender Identity

An individual's personal sense of their own gender, which may or may not correspond with their birth sex.

Gender Expression

The external manifestation of one's gender identity, through clothing, behavior, hairstyle, voice, and body characteristics.

Gender Role Socialized

The process by which individuals are taught and learn the behaviors, expectations, and roles considered culturally appropriate for their gender.