Item18 Time Remaining 51 minutes 53 seconds00:51:53 eBookItem 18 Time Remaining 51 minutes 53 seconds00:51:53 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 Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning inventory 158 units @ $10 = $1,580 May 5 Purchase 228 units @ $12 = $2,736 May 10 Sales 148 units @ $20 May 15 Purchase 108 units @ $13 = $1,404 May 24 Sales 98 units @ $21 Multiple Choice $2,660 $2,220 $3,660 $3,388