Multiple Choice $4,600 $8,540 $3,940 $4,430 $4,110

Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to the ending inventory using FIFO. Date May 1 May 5 May 10 May 15 May 24 Activities Beginning Inventory Purchase Sales Purchase Sales Units Acquired 190 240 120 units units units Units Sold at Retail at Cost $14 $16 160 units @ $24 $17 110 units @ $25 Multiple Choice O O O O O $4,600 $8,540 $3,940 $4,430 $4,110