(LO 6)Salmone Company reported the following purchases and sales for its only product. Salmone uses...
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Accounting
(LO 6)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 5 10 15 24 Activities Beginning Inventory Purchase Sales Purchase Sales Units Acquired at Cost Units Sold at Retail 250 units @ $10 270 units @ $12 190 units @ $20 150 units @ $13 140 units @ $21
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