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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.
DateActivitiesUnits Acquired at CostUnits Sold at Retail
May 1Beginning Inventory210 units @ $16
5Purchase250 units @ $18
10Sales 170 units @ $26
15Purchase130 units @ $19
24Sales 120 units @ $27
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Principles Of Food Beverage And Labor Cost Controls
Authors: Paul R. Dittmer, J. Desmond Keefe
8th Edition
0471429929, 978-0471429920
