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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 Units Acquired at Cost 340 units @ $19 315 units @ $21 Date May 1 5 10 15 24 Activities Beginning Inventory Purchase Sales Purchase Sales 235 units @ $29 195 units @ $22 185 units @ $30 Multiple Choice $17,365 58140 $8360 O $9.225 $8.900 O 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 Units Sold at Retail Date May 1 5 10 15 24 Activities Beginning Inventory Purchase Sales Purchase Sales Units Acquired at Cost 350 units @ $20 320 units @ $22 240 units @ $30 200 units @ $23 190 units @ $31 Multiple Choice $9,880 O $8,760 $9,650 $8.990 O $18,640 O
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