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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 the ending
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to the ending inventory using FIFO. Units Sold at Retail Date Activities May 1 Beginning Inventory 5 Purchase 10 Sales 15 Purchase 24 Sales Units Acquired at Cost 180 units @ $13 235 units @ $15 155 units @ $23 115 units @ $16 105 units @ $24 Multiple Choice O $3,540 $4,005 O $4,060 o $4,165 $3,700 O
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