Question: Saved Help Save & Exit Submit Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system.

Saved Help Save & Exit Submit Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to the ending inventory using FIFO. Activities Beginning inventory Purchase Date May 1 May 5 May 101 May 15 Purchase May 24 Sales Sales Units Acquired at Cost 182 units $10-$1,820 252 units $12 - $3,024 Units Sold at Retail 172 units @ $20 132 units $13-$1,716 122 units @ $21 Multiple Choice $3,396 $3,364 $3,294 $3,650 $6,560 Next>

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