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Salmone Company reported the following purchases and sales for its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of

Salmone Company reported the following purchases and sales for its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using LIFO.
Date Activities Units Acquired at Cost Units Sold at Retail
May 1 Beginning inventory 184 units @ $10= $ 1,840
May 5 Purchase 254 units @ $12= $ 3,048
May 10 Sales 174 units @ $20
May 15 Purchase 134 units @ $13= $ 1,742
May 24 Sales 124 units @ $21

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