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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 ending inventory
Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to ending inventory using LIFO. Units Sold at Retail Units Acquired at Cost 330 units @ $18 310 units @ $20 Date May 1 May 5 May 10 May 15 May 24 Activities Beginning Inventory Purchase Sales Purchase Sales 230 units @ $28 190 units @ $21 180 units @ $29 Multiple Choice $5,908 $12,060 $7,740 $9,140 O $5,510
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