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Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to the ending inventory using FIFO. Units Sold at Retail Date May 1 5 10 15 24 Activities Beginning Inventory Purchase Sales Purchase Sales Units Acquired at Cost 340 units @ $19 315 units @ $21 235 units @ $29 195 units @ $22 185 units @ $30 Multiple Choice $8,360 con Multiple Choice O $8,360 O $8,140 $9,005 O O $9,225 O $17,365 A company uses the periodic inventory system and had the following activity during the current monthly period. November 1: Beginning inventory November 5: Purchased November 8: Purchased November 16: Sold November 19: Purchased 111 Units @ $30 111 Units @ $22 61 Units @ $30 170 Units @ $100 70 Units @ $30 Using the weighted-average inventory method, the company's ending inventory would be: Multiple Choice $5,030 O $5,030 O $3,930 O $7,260 $3,330 O $5,430 A company's inventory records report the following: August 1 August 5 August 12 Beginning balance Purchase Purchase 31 units @ $21 26 units @ $20 30 units @ $21 On August 15, it sold 62 units. Using the FIFO perpetual inventory method, what is the value of the inventory at August 15 after the sale? Multiple Choice $525 $1,425 O $525 O $1,425 $2,175 O $545 O $1,302

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