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30) Salmone Company reported the following purchases and sales for its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost
30) Salmone Company reported the following purchases and sales for its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using LIFO. Date May 1 Activities Beginning inventory May 5 Purchase Units Acquired at Cost 162 units @ $10 - $ 1,620 232 units @ $12 - $2,784 Units Sold at Retail May 10 Sales 152 units @ $20 May 15 Purchase 112 units @ $13 - $ 1,456 May 24 Sales 102 units @ $21 3160 2580 2710 3150 3280
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