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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 Activities Units Acquired at Cost Units sold at Retail Beginning inventory 182 units @ $10 - $ 1,820 May 5 Purchase 252 units @ $12 - $ 3,024 May 10 Sales 172 units @ $20 May 15 Purchase 132 units @ $13 = $1,716 Sales 122 units @ $21 May 1 May 24 Multiple Choice O $3,660 O $2,780 $2.910 A company's inventory records indicate the following data for the month of April: Units Sold at Retail Units Acquired at Cost 860 units e $36 = $30,960 740 units @ $40 - $29,600 Date April 1 April 7 April 11 April 16 April 22 April 29 Activities Beginning inventory Purchase Sale Purchase Sale Purchase 1,320 units @ $110 660 units e $44 - $29,040 400 units $110 640 units @ $50 - $32,000 The company uses a periodic inventory system. Determine the cost assigned to ending inventory using the specific identification method. Ending inventory consists of 410 units from the April 29 purchase, 360 units from the April 16 purchase, 370 units from the April 7 purchase, and 100 units from beginning inventory Multiple Choice $66,640 $99,660 A company's inventory records indicate the following data for the month of January Units Sold at Retail Units Acquired at Cost 380 units @ $18 = $6,840 360 units @ $20 = $ 7,200 Date January 1 January 8 January 12 January 17 January 23 January 28 Activities Beginning inventory Purchase Sale Purchase Sale Purchase 640 units @ $70 420 units e $22 = $9,240 310 units @ $70 480 units @ $24 = $11,520 If the company uses the LIFO perpetual inventory system, what would be the cost of the ending inventory? Multiple Choice $6,820 $15.740. $13,340. $1R 400 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 190 units @ $10 - $1,900 May 5 Purchase 260 units @ $12 = $3,120 May 10 Sales 180 units @ $20 Purchase 140 units @ $13 - $1,820 May 24 Sales 130 units @ $21 May 15 Multiple Choice $3,500 $6,840 $3,340 $3.850 A company's inventory records report the following in November of the current year. Date Activities Units Acquired at Cost Units Sold at Retail November 1 Beginning inventory 5 units @ $22 = $110 November 2 Purchase 10 units @ $24 - $240 November 8 Sales 12 units e $56 November 12 Purchase 6 units @ $27 - $162 Using the LIFO perpetua/inventory method, what was the amount recorded in the cost of goods sold account for the 12 units sold? Multiple Choice O $274 O $284 $306 O $202 Salmone Company reported the following purchases and sales for its only product. Salmone uses a periodic inventory system. Determine the cost assigned to cost of goods sold using LIFO. Date Activities Units Acquired at Cost Units Sold at Retail Beginning inventory 162 units @ $10 - $1,620 Purchase 232 units @ $12 = $2,784 May 10 Sales 152 units @ $20 May 15 Purchase 112 units @ $13 - $1,456 May 24 Sales 102 units @ $21 May 1 May 5 Multiple Choice $2.710 $3,150 $2.700 $3,160 Grays Company has the following purchases and sales during the month of August. Using the FIFO perpetual inventory method, what amount will be reported as cost of goods sold for the 12 units that were sold? Date Activities Units Acquired at Cost Units sold at Retail August 1 Beginning inventory 10 units @ $24 = $240 August 3 Purchase 20 units @ $26 - $520 August 6 Sales 12 units sold Multiple Choice $284 $260 O $308 O $282. an