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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 -300 Activities Beginning inventory Purchase Sales Purchase Sales Units Acquired at cost 158 units @ $10-$1,580 228 units 512 $2,736 148 units $20 108 units 513 $1,404 98 units $21
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