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TB MC Qu.05-161(Algo) Salmone Company reported... TB MC Qu.05-90(Algo) Giorgio had cost...

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Accounting

TB MC Qu.05-161(Algo) Salmone Company reported... TB MC Qu.05-90(Algo) Giorgio had cost of goods sold...
Glorgio had cost of goods sold of $9,589 million, ending Inventory of $2,257 million, and average inventory of $2,133 million. Its inventory turnover equals:
Multiple Choice
0.24.
4.26.
85.9 days.
81.2 days.
4.50.
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
May 5
May 10
May 15
May 24
Activities
Beginning inventory
Purchase
Sales
Purchase
Sales
Units Acquired at Cost
166 units @$10=$1,660
236 units @ $12=$2,832
116 units @ $13=$1,508
116 units @$13=$1,508
Units Sold at Retail
156 units @ $20
106 units @ $21
Multiple Choice
$3,260
$2,620
$2.750
$3,250
$3,380
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