Salmone Company Reported the Following Purchases and Sales for Its

question 82

Multiple Choice

Salmone Company reported the following purchases and sales for its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using LIFO.
$$\begin{array} { | r | l | l | l | } \hline \text { Date } & \text { Activities } & \text { Units Acquired at Cast } & \text { Units Sold at Ret ail } \\\hline \text { May 1 } & \text { Beginning Inventory } & 150 \text { units @ \$10.00 } & \\\hline 5 & \text { Purchase } & 220 \text { units @ @ } \$ 12.00 & \\\hline 10 & \text { Sales } & & 140 \text { units @ \$20.00 } \\\hline 15 & \text { Pur chase } & 100 \text { units @ \$13.00 } & \\\hline 24 & \text { Sales } & & 90 \text { units @ \$21.00 } \\\hline\end{array}$$

• A) $2,980
• B) $2,590
• C) $2,850
• D) $2,860
• E) $2,460

Illustrate the process of dehydration reactions in organic chemistry.

Comprehend the synthesis and chemical properties of esters.

Understand the biochemical relevance of nucleotides and their linkages in DNA.

Understand the principles and mechanisms behind the Williamson ether synthesis and its application in organic synthesis.

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Definitions:

Variable Inputs

Inputs whose quantities can be changed in the short term to adjust production levels, such as labor and raw materials.

Fixed Input

An input whose quantity does not change with the level of output in the short run.

Marginal Product

The additional output that is produced by using one more unit of a variable input, holding all other inputs constant.

Variable Input

An input in the production process that varies with the level of output, such as labor or raw materials.