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Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetua/inventory system. Determine the cost assigned to ending inventory using
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetua/inventory system. Determine the cost assigned to ending inventory using LIFO. Units Sold at Retail Date May 1 5 10 15 24 Activities Beginning Inventory Purchase Sales Purchase Sales Units Acquired at Cost 160 units @ $11 225 units @ $13 145 units @ $21 105 units @ $14 95 units @ $22 Multiple Choice $6.155 $2.800 $2.940 $3,355 $3,240
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