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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 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

a.) $2,910

b.) $2,480

c.) $2,610

d.) $2,900

e.) $3,030

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