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Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to ending inventory
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to ending inventory using LIFO. Activities Units Acquired at Cost Units Sold at Retail 270 units e $12 Date May 1 Beginning Inventory Purchase 280 units $14 200 units $22 160 units $15 1 5 Purchase 150 units $23 24 Sales Multiple Choice $9,560 $4,360 $4,510 $5.200 $4,840 OOO
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