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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 perpetualinventory system. Determine the cost assigned to ending inventory using LIFO.
| Date | Activities | Units Acquired at Cost | Units Sold at Retail |
| May 1 | Beginning Inventory | 180 units @ $13 | |
| 5 | Purchase | 235 units @ $15 | |
| 10 | Sales | 155 units @ $23 | |
| 15 | Purchase | 115 units @ $16 | |
| 24 | Sales | 105 units @ $24 | |
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Food Hygiene Auditing
Authors: N. Chesworth
1997th Edition
1461380545, 978-1461380542
