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Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. D assigned to ending inventory using LIFO.
Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. D assigned to ending inventory using LIFO. Activities Beginning inventory Purchase Date May 1 May 5 May 10 Sales May 15 Purchase May 24 Sales Units Sold at Retail Units Acquired at Cost 178 units $10 = $1,780 248 units @ $12 $2,976 168 units @ $20 128 units @ $13 - $1,664 118 units @ $21 Multiple Choice $2,932 $2,520 $3,908 May 5 May 10 Sales 168 May 15 May 24 Purchase Sales 128 units @ $13 = $1,664 118 L Multiple Choice $2,932 $2,520 $3,908 $3,860 $2,860
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