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Salmone Company reported the following purchases and sales...

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Accounting

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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 ending inventory using LIFO. Date Activities Units Acquired at Cost Units sold at Retail May 1 Beginning inventory 172 units @ $10 = $1,720 May 5 Purchase 242 units @ $12 = $2,994 May 10 Sales 162 units @ $20 May 15 Purchase 122 units @ $13 = $1,586 May 24 Sales 112 units @ $21 Multiple Choice $2.788 $3,752 ( O $2,788 O $3,752 O $2,800 O $3,800 O $2.430

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