S TB MC Qu. 05-161 (Algo) Salmone Company reported... 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 May 1 May 5 May 10 May 15 May 24 Activities Beginning inventory Purchase Sales Purchase Sales Multiple Choice Units Acquired at Cost 164 units @ $10 = $ 1,640 234 units @ $12 = $ 2,808 114 units @ $13 = $ 1,482 Units Sold at Retail 154 units @ $20 104 units @ $21

TB MC Qu. 05-161 (Algo) Salmone Company reported... Saimone Compary reported the following purchases and sales for its only product Salmone uses a perpefuof inventory system. Determine the cost assigned to cost of goods sold using Lifo. \begin{tabular}{|c|c|c|c|} \hline Date & Activities: & Units Acquired at cost & Units Sold at Retail \\ \hline May 1 & Beginning inventory & 164 units e $1=$1,64e & \\ \hline May 5 & Purchase & 234 units e $12=$2,8es & \\ \hline Hay 20 & Sales. & & 154 units \& $20 \\ \hline May 15 & Purchase & 114 units $13=$1,482 & \\ \hline Hay 24 & Sales & & 104 units \& $21 \\ \hline \end{tabular}