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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. Activities Units Acquired at Cost 20 units $17 305 units e s19 Date Units Sold at Retail May 1 Beginning Inventory 5 Purchase 10 Sales 15 Purchase 24 Sales 225 units $27 185 units $20 175 units $28
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