Salmone Company reported the following purchases and sales for its only product. Salmone uses a...
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Accounting
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. Units Sold at Retail Date May 1 May 5 May 10 May 15 May 24 Activities Beginning inventory Purchase Sales Purchase Sales Units Acquired at Cost 182 units @ $10 = $1,820 252 units @ $12 = $3,024 172 units @ $20 132 units $13 = $1,716 122 units @ $21 Multiple Choice $3,780 O $3,650 O O $2,910 $3,660 O $2,780
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