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Need help on this question Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the
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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. Units Sold at Retail Date May 1 May 5 May 10 May 15 May 24 Activities Beginning inventory Purchase Sales Purchase Sales Units Acquired at Cost 164 units @ $10 = $1,640 234 units @ $12 = $2,808 154 units @ $20 114 units @ $13 = $1,482 104 units @ $21 Multiple Choice O $3,162 $2,768 O $3,032 114 units @ $13 = $1,482 May 15 May 24 Purchase Sales 104 units @ $21 Multiple Choice $3,162 O $2,768 O $3,032 $2,772 O O $5,930Step by Step Solution
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