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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. Date Units Sold at Retail Units Acquired at Cost 182 units @ $10 $1,820 252 units @ $12 $3,024 = = May 1 May 5 May 10 May 15 May 24 Activities Beginning inventory Purchase Sales Purchase Sales 172 units @ $20 132 units @ $13 = $1,716 122 units @ $21 Multiple Choice $3,396 O $3,164 $3,266 a $3,006 $3,276
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