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. Date Units Sold at Retail Activities Beginning Inventory Purchase Sales Purchase Sales Units Acquired at Cost 160 units @ $11 225 units $13 May 1 May 5 May 10 May 15 May 24 145 units @ $21 105 units @ $14 95 units @ $22 Multiple Choice $2.940 $2.800
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