Multiple Choice

$$5,510$

$$2,480$

$$2,610$

$$3,030$

$$2,910$Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual 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 $152$ units @ $$10=$ $$1,520$

May $5$ Purchase $222$ units @ $$12=$ $$2,664$

May $10$ Sales $142$ units @ $$20$

May $15$ Purchase $102$ units @ $$13=$ $$1,326$

May $24$ Sales $92$ units @ $$21$