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Determine the cost assigned to cost of goods sold using fifo

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Problem 1: 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

Beginning Inventory 200 units @ $15

Purchase 245 units @ $17

Sales 165 units @ $25

Purchase125 units @ $18

Sales 115 units @ $26

Reference no: EM132959112

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