A company's inventory records indicate the following data for the month of January Units Sold at Retail Date January 1 January 8 January 12 January 17 January 23 January 28 Activities Beginning inventory Purchase Sale Purchase Sale Purchase Units Acquired at Cost 460 units @ $18 - $8,280 440 units @ $20 - $8,800 500 units @ $22 - $11,000 800 units @ $70 350 units @ $70 560 units @ $24 $13,440 If the company uses the LIFO perpetual inventory system, what would be the cost of the ending inventory? Multiple Choice $7,700 $18.540 O $7700 $18,540. $16,780 $22,080 O O $22.980. Salmone Company reported the following purchases and sales of its only product Salmone uses a perpetual Inventory system Determine the cost assigned to the ending inventory using FIFO Units Sold at Retail Date May 1 May 5 May 10 May 15 May 24 Activities Beginning inventory Purchase Sales Purchase Sales Units Acquired at Cost 180 units @ $10 = $1,800 250 units @ $12 = $3,000 170 units @ $20 130 units @ $13 = $1,690 120 units @ $21 Multiple Choice G G $3,370 $3120 $3,370 O O $3,120 O O $3,240 $2,980 $3,250