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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
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 Units Sold at Retail Activities Beginning inventory Purchase Sales Purchase Sales Units Acquired at Cost 182 units @ $10 = $1,820 252 units d $12 = $3,024 May 1 May 5 May 10 May 15 May 24 172 units @ $20 132 units @ $13 = $1,716 122 units @ $21 Multiple Choice $2.910 G 53,650 Multiple Choice O $2.910 O $3,650 $2,900 $3,660 O $2.844
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