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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 ending inventory
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to ending inventory using LIFO. Units Sold at Retail Date May 1 5 Activities Beginning Inventory Purchase Sales Purchase Sales Units Acquired at Cost 250 units @ $10 270 units @ $12 190 units @ $20 150 units @ $13 24 140 units @ $21 Multiple Choice S7690 $4,230 S3,460 53.860 53590
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