6) Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual 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

190 units @ $14

5

Purchase

240 units @ $16

10

Sales

160 units @ $24

15

Purchase

120 units @ $17

24

Sales

110 units @ $25

7)Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to ending inventory using LIFO.

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

8)Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using FIFO.

Date

Activities

Units Acquired at Cost

Units Sold at Retail

May 1

Beginning Inventory

160 units @ $11

5

Purchase

225 units @ $13

10

Sales

145 units @ $21

15

Purchase

105 units @ $14

24

Sales

95 units @ $22

9) A company had beginning inventory of 11 units at a cost of $9 each on March 1. On March 2, it purchased 11 units at $16 each. On March 6 it purchased 5 units at $16 each. On March 8, it sold 25 units for $59 each. Using the FIFO perpetual inventory method, what was the cost of the 25 units sold?

10) A companys inventory records report the following in November of the current year:

Beginning	November 1	4 units @ $5
Purchase	November 2	11 units @ $7
Purchase	November 12	7 units @ $9

On November 8, it sold 13 units for $35 each. Using the LIFO perpetual inventory method, what was the amount recorded in the cost of goods sold account for the 13 units sold?