Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory syste the cost assigned to cost of goods sold using FIFO. Date Activities Units Acquired at Cost 174 units @ $10- $1,740 244 units $12 T$2,928 Units Sold at Retail May 1 May 5 May 10 Маy 15 Маy 24 Beginning inventory Purchase Sales 164 units @ $20 Purchase Sales 124 units @ $13 $1,612 114 units @ $21
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory syste the cost assigned to cost of goods sold using FIFO. Date Activities Units Acquired at Cost 174 units @ $10- $1,740 244 units $12 T$2,928 Units Sold at Retail May 1 May 5 May 10 Маy 15 Маy 24 Beginning inventory Purchase Sales 164 units @ $20 Purchase Sales 124 units @ $13 $1,612 114 units @ $21
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 3PEA: Beginning inventory, purchases, and sales for Item Zebra 9x are as follows: Assuming a perpetual...
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![$3,162
$2,902
$6,280
$3,292
$2,988](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F22e56984-3075-4baf-a2ae-19b098a5f3fc%2F1f8d25fc-2f1b-42dd-b3ef-dcd82b91a7c5%2F95htmv_processed.jpeg&w=3840&q=75)
Transcribed Image Text:$3,162
$2,902
$6,280
$3,292
$2,988
![Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetualinventory system. Determine
the cost assigned to cost of goods sold using FIFO.
Date
Activities
Units Acquired at Cost
174 units @ $10- $1,740
244 units e $12 T$2,928
Units Sold at Retail
May 1
Beginning inventory
May s
Purchase
Мay 10
Sales
164 units @ $20
Мay 15
Маy 24
Purchase
Sales
124 units $13- $1,612
114 units @ $21](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F22e56984-3075-4baf-a2ae-19b098a5f3fc%2F1f8d25fc-2f1b-42dd-b3ef-dcd82b91a7c5%2Fvszz34j_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetualinventory system. Determine
the cost assigned to cost of goods sold using FIFO.
Date
Activities
Units Acquired at Cost
174 units @ $10- $1,740
244 units e $12 T$2,928
Units Sold at Retail
May 1
Beginning inventory
May s
Purchase
Мay 10
Sales
164 units @ $20
Мay 15
Маy 24
Purchase
Sales
124 units $13- $1,612
114 units @ $21
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