TB MC Qu. 05-163 (Algo) Salmone Company reported the following... Salmone Company reported the following purchases and sales of its only product Salmone uses a periodic inventory system, Determine the cost assigned cost of goods sold using FIFO Date May 1 May 5 May 101 May 15 May 24 Beginning inventory Purchase Sales Purchase Sales Multiple Choice $3,208 $3.710 $3,830 Activities $3.700 Units Acquired at Cost 184 units @ $10 - $1,840 254 units@ $12 - $3,048 134 units@ $13 - $1,742 Units sold at Retail 174 units @ $20 124 units $21 Activate Wi

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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TB MC Qu. 05-163 (Algo) Salmone Company reported the following...
Salmone Company reported the following purchases and sales of its only product Salmone uses a periodic inventory system Determine the cost assigned to
cost of goods sold using FIFO
Date
May 1
May 5
May 10:1
May 15
May 24
Beginning inventory
Purchase
Sales
Purchase
Sales
Multiple Choice
$3,208
$3.710
$3,830
Activities
$3,700
Units Acquired at Cost
184 units@ $10-$1,840
254 units@ $12- $3,048
134 units@ $13 - $1,742
Units sold at Retail
174 units @ $20
124 units $21
Activate Windows
Transcribed Image Text:TB MC Qu. 05-163 (Algo) Salmone Company reported the following... Salmone Company reported the following purchases and sales of its only product Salmone uses a periodic inventory system Determine the cost assigned to cost of goods sold using FIFO Date May 1 May 5 May 10:1 May 15 May 24 Beginning inventory Purchase Sales Purchase Sales Multiple Choice $3,208 $3.710 $3,830 Activities $3,700 Units Acquired at Cost 184 units@ $10-$1,840 254 units@ $12- $3,048 134 units@ $13 - $1,742 Units sold at Retail 174 units @ $20 124 units $21 Activate Windows
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