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Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to the ending
Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to the ending inventory using FIFO. Units Sold at Retail Date May 1 May 5 May 10 May 15 May 24 Activities Beginning inventory Purchase Sales Purchase Sales Units Acquired at Cost 152 units @ $10 = $1,520 222 units @ $12 $2,664 142 units @ $20 102 units @ $13 = $1,326 92 units @ $21 Multiple Choice O O $3.006 O $5,510 O O $2,504 a $2,900 O
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