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. 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 156 units @ $10 - $1,560 226 units @ $12 - $2,712 106 units e $13 $1,378 146 units e $20 96 units @ $21 Multiple Choice $3,058 5 $2,592 $2,928 Ace Company reported the following information for the current year: Sales $ 425,000 Cost of goods sold: Beginning inventory $ 154,500 Cost of goods purchased 288,000 Cost of goods available for sale 442,500 Ending inventory 159,000 Cost of goods sold 283,500 Gross profit $ 141,500 The beginning inventory bolonce is correct. However, the ending inventory figure was overstated by $35,000. Given this information, the correct gross profit would be: Multiple Choice $106,500 $141500 A company has the following purchases and sales during March. Using the FIFO perpetual inventory method, what was the cost of the 22 units sold? Date Activities Units Acquired at Cost Units sold at Retail March 1 Beginning inventory 10 units e $35 - $350 March 2 Purchase 10 units @ $37 - $370 March 6 Purchase 6 units $40 - $240 March 8 Sales 22 units @ $69 Multiple Choice $800 $835 $765 $960 Date Marquis Company uses a weighted average perpetual inventory system and has the following purchases and sales: Activities Units Acquired at Cost Units Sold at Retail August 2 Purchase 10 units e $42 - $420 August 18 Purchase 15 units @ $44 - $660 August 29 Sales 12 units sold What is the amount of the cost of goods sold for this sale? (Round average cost per unit to 2 decimal places.) Multiple Choice S1080.00 $660.00 $518.40 CENE