Exit Submit Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to ending inventory using LIFO. Date May 1 Activities Beginning inventory May 5 Purchase Units Acquired at Cost 186 units @ $10 = $1,860 256 units @ $12 = $3,072 Units Sold at Retail May 10 Sales May 15 Purchase 136 units @ $13 = $1,768 May 24 Sales 176 units @ $20 126 units @ $21 Multiple Choice $3,124 $4,116 $2,940