TB MC Qu. 05.160 (Algo) Salmone Company reported... 9 Salmone Company reported the following purchases...
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TB MC Qu. 05.160 (Algo) Salmone Company reported... 9 Salmone Company reported the following purchases and sales of Its only product. Salmone uses a perpetual Inventory system. Determine the cost assigned to ending inventory using LIFO. Units Sold at Retail 1 points Date May 1 May 5 May 10 May 15 May 24 Activities Beginning inventory Purchase Sales Purchase Sales Units Acquired at cost 168 units @ $10 = $1,680 238 units @ $12 - $2,856 158 units @ $20 118 units @ $13 = $1,534 eBook 108 units @ $21 Print Multiple Choice References O $6.070 $2.640 $2.770 $3,430 $3,310 (Algo) A company's Inventory... 10 A company's Inventory records report the following in November of the current year: Units sold at Retail points Date November 1 November 2 November 8 November 12 Activities Beginning inventory Purchase Sales Purchase Units Acquired at cost 5 units @ $52 = $260 10 units @ $54 = $540 12 units @ $86 6 units @ $57 = $342 eBook Using the LIFO perpetual inventory method, what was the amount recorded in the cost of goods sold account for the 12 units sold? Print Multiple Choice References $574 $644 5666 $412 $498
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