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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 the ending
Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic Inventory system. Determine the cost assigned to the ending Inventory using FIFO. Date Units Sold at Retail May 1 Activities Beginning Inventory Purchase Units Acquired at Cost 240 units @ $19 265 units @ $21 5 10 Sales 185 units @ $29 15 Purchase 145 units @ $22 24 Sales 135 units @ $30
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