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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

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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 goods sold using LIFO Date Activities Units Acquired at Cost Units Sold at Retail May Beginning Inventory 150 nits $10.00 220 units $12.00 5 Purchase 10 Sales 15 Purchase 24 Sales 140 units $20.00 100 units $13.00 90 units$21.00

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