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52. A company had the following purchases and sales during its first year of operations: Purchases Sales January: 23 units at $205 17 units February:
52. A company had the following purchases and sales during its first year of operations:
| Purchases | Sales | |
| January: | 23 units at $205 | 17 units |
| February: | 33 units at $210 | 17 units |
| May: | 28 units at $215 | 21 units |
| September: | 25 units at $220 | 20 units |
| November: | 23 units at $225 | 25 units |
On December 31, there were 32 units remaining in ending inventory. Using the Perpetual LIFO inventory valuation method, what is the cost of the ending inventory? (Assume all sales were made on the last day of the month.)
54. Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to the ending inventory using FIFO.
| Date | Activities | Units Acquired at Cost | Units Sold at Retail |
| May 1 | Beginning Inventory | 260 units @ $11 | |
| 5 | Purchase | 275 units @ $13 | |
| 10 | Sales | 195 units @ $21 | |
| 15 | Purchase | 155 units @ $14 | |
| 24 | Sales | 145 units @ $22 | |
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