TB MC Qu$.05-161($Algo$)$ Salmone Company reported... TB MC Qu$.05-90($Algo$)$ Giorgio had cost of goods sold...

Glorgio had cost of goods sold of $$9,589$ million, ending Inventory of $$2,257$ million, and average inventory of $$2,133$ million. Its inventory turnover equals:

Multiple Choice

$0\mathrm{.}24.$

$4\mathrm{.}26.$

$85\mathrm{.}9$ days.

$81\mathrm{.}2$ days.

$4\mathrm{.}50.$

Salmone Company reported the following purchases and sales for its only product. Salmone uses a perpetual Inventory system. Determine the cost assigned to cost of goods sold using LIFO.

Date

May $1$

May $5$

May $10$

May $15$

May $24$

Activities

Beginning inventory

Purchase

Sales

Purchase

Sales

Units Acquired at Cost

$166$ units @$$10=$$$1,660$

$236$ units @ $$12=$$$2,832$

$116$ units @ $$13=$$$1,508$

$116$ units @$$13=$$$1,508$

Units Sold at Retail

$156$ units @ $$20$

$106$ units @ $$21$

Multiple Choice

$$3,260$

$$2,620$

$$2\mathrm{.}750$

$$3,250$

$$3,380$