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O Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to the
O 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.. Activities Date May 1 May 5 Purchase May 10 Sales May 15 Purchase May 24 Sales Beginning inventory Units Acquired at Coat 176 units $10-$1,760 246 units $12 - $2,952 Units sold at Retail 166 unite $20 126 units 513-51,638 116 units $21 Mule Choice $3.032 $3.500 $3,162 $6.350 $3.318
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