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Salmone Company reported the following purchases and sales of its only product. Salmone uses a...

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Accounting

Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using FIFO. Date May 1 May 5 May 10 May 15 May 24 Beginning inventory Purchase Sales Purchase Sales Multiple Choice $3,422 $3,208 Activities $3,292 Units Acquired at Cost 184 units $10 254 units @ $12 134 units @ $13 $1,840 $3,048 $1,742 Units Sold at Retail 174 units @ $20 124 units @ $21
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Saimone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using FIFO. Mutuple Choice $3,422 53,208 $3,292

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