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 270 units @ $12 5 Purchase 280 units @ $14 10 Sales 200 units @ $22 15 Purchase 160 units @ $15 24 Sales 150 units @ $23 Multiple Choice $4.510 $5.050 $4,360 $5,200