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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. Units Sold at Retail Date May 1 5 Activities Beginning Inventory Purchase Sales Purchase Sales Units Acquired at Cost 250 units @ $10 270 units @ $12 10 190 units @ $20 15 24 150 units @ $13 140 units @ $21
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