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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. Date May 1 Activities May 5 Beginning inventory Purchase Units Acquired at Cost 182 units $10-$1,820 252 units $12 - $3,024 Units Sold at Retail May 10. Sales 172 units $20 May 15 May 24 Purchase Sales 132 units $13 $1,716 122 units $21
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