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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
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 Activities Beginning inventory Purchase Units Acquired at Cost 152 units @ $10 = $ 1,520 222 units @ $12 = $ 2,664 Units Sold at Retail May 10 Sales 142 units @ $20 May 15 Purchase 102 units @ $13 = $ 1,326 May 24 Sales 92 units @ $21 Multiple Choice $2,910 $2,480 $2,610
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