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TB MC Qu . 0 5 - 1 6 3 ( Algo ) Salmone Company reported the following... Salmone Company reported the following purchases and

TB MC Qu.05-163(Algo) Salmone Company reported the following...
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perlodic Inventory system. Determine the cost assigned to cost of goods sold using FIFO.
\table[[Date,Activities,Units Acquired at cost,Units Sold at Retail],[May 1,Beginning inventory,168 units @ $10=$1,680,],[May 5,Purchase,238 units @ $12= $2,856,],[May 10,Sales,,158 units @ $20],[May 15,Purchase,,],[May 24,Sales,,108 units @ $21
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