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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 Acquired at Cost Units Sold at Retail Activities Date 190 units @ $14 Beginning Inventory May 1 240 units e $16 Purchase 5 160 units $24 Sales 10 120 units @ $17 15 Purchase 110 units $25 Sales 24 Multiple Choice $4,110 $4,430 $4,100 $4.440 $3,940
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