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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 cost of
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using FIFO.
May 1 Beginning Inventory 150 units @ $10= $1500
May 5 Purchase 220 units @ $12 = $2640
May 10 Sales 140 units @20
May 15 Purchase 100 units @ $13 = 1300
May 24 Sales 90 units @ $21
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