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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 of
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. Units Sold at Retail Date May 1 Units Acquired at Cost 170 units @ $12 230 units @ $14 Activities Beginning Inventory Purchase Sales Purchase Sales 150 units @ $22 110 units @ $15 100 units @ $23 O $3,600 O $3,640 O $3,750 O $3,160 O $3,310
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