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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

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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 goods sold using LIFO. Units Sold at Retail Date May 1 5 10 Activities Beginning Inventory Purchase Sales Purchase Sales Units Acquired at Cost 220 units @ $17 255 units @ $19 175 units @ $27 15 135 units @ $20 24 125 units @ $28

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