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 @ $10 = $ 1,600
May 5	Purchase	230 units @ $12 = $ 2,760
May 10	Sales		150 units @ $20
May 15	Purchase	110 units @ $13 = $ 1,430
May 24	Sales		100 units @ $21

Multiple Choice

• $3,110

• $2,560

• $2,690

• $3,100

• $3,230