Salmone Company reported the following purchases and sales for its only product. Salmone uses a periodic 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	190 units @ $10 = $1,900
May 5	Purchase	260 units @ $12 = $3,120
May 10	Sales		180 units @ $20
May 15	Purchase	140 units @ $13 = $1,820
May 24	Sales		130 units @ $21

Multiple Choice

• $2,990

• $3,850

• $2,980

• $3,860

• $2,940