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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. Units Sold at Retail Units Acquired at Cost 250 units @ $10 270 units @ $12 Date Activities May 1 Beginning Inventory May 5 Purchase May 10 Sales May 15 Purchase May 24 Sales 190 units @ $20 150 units @ $13 140 units @ $21
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