almone Company reported the following purchases and sales of its only product. Salmone uses a...
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Accounting
almone 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 Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning inventory 184 units @ $10 = $1,840 May 5 Purchase 254 units @ $12 = $3,048 May 10 Sales 174 units @ $20 May 15 Purchase 134 units @ $13 = $1,742 May 24 Sales 124 units @ $21 Multiple Choice $3,292 $3,032 $3,422 $3,208 $3,302
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