A company's inventory records indicate the following data for the month of January: Date Activities Units Acquired at Cost Units Sold at Retail January 1 Beginning inventory 480 units @ $18 = January 8 January 12 Purchase 460 units @ $20 = $8,640 $9,200 Sale 840 units @ $70 January 17 January 23 January 28 Sale Purchase Purchase 520 units @ $22 = $11,440 360 units @ $70 580 units @ $24 = $13,920 If the company uses the LIFO perpetual inventory system, what would be the cost of the ending inventory? A company has the following purchases and sales during March. Using the FIFO perpetual inventory method, what was the cost of the 22 units sold? Date March 1 March 2 March 6 March 8 Activities Beginning inventory Purchase Purchase Sales Units Acquired at Cost 10 units @ $35 = $350 10 units @ $37 Units Sold at Retail = $370 6 units @ $40 = $240 22 units @ $69 A company's inventory records indicate the following data for the month of April: Date April 1 April 7 Activities Beginning inventory Purchase Units Acquired at Cost 900 units @ $36 780 units @ $40 Units Sold at Retail = $32,400 = $31,200 April 11 Sale 1,400 units @ $110 April 16 April 22 Purchase Sale 700 units @ $44 = $30,800 400 units @ $110 The company uses a periodic inventory system. Determine the cost assigned to ending inventory using the specific identification method. Ending inventory consists of 400 units from the April 16 purchase, 80 units from the April 7 purchase, and 100 units from beginning inventory. 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 May 1 May 5 May 10 May 15 May 24 Activities Beginning inventory Purchase Units Acquired at Cost 184 units @ $10 = $1,840 254 units @ $12 = $3,048 Units Sold at Retail Sales 174 units @ $20 Purchase 134 units @ $13 = $1,742 Sales 124 units @ $21 Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to cost of goods sold using FIFO. Date May 1 May 5 May 10 May 15 May 24 Activities Beginning inventory Purchase Sales Purchase Sales Units Acquired at Cost 162 units @ $10 = $1,620 232 units @ $12 Units Sold at Retail = $2,784 152 units @ $20 112 units @ $13 = $1,456 102 units @ $21