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	160 units @ $11
5	Purchase	225 units @ $13
10	Sales		145 units @ $21
15	Purchase	105 units @ $14
24	Sales		95 units @ $22

Multiple Choice

• $3,240

• $2,800

• $2,940

• $3,215

• $3,355