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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. Units Sold at Retail Units Acquired at Cost 170 units @ $12 230 units @ $14 Date May 1 5 10 15 24 Activities Beginning Inventory Purchase Sales Purchase Sales 150 units @ $22 110 units @ $15 100 units @ $23 Multiple Choice $3,310 $6,910 $3,160 $3,640 $3,750
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