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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

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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 goods sold using LIFO. Units Sold at Retail Date May 1 5 Activities Beginning Inventory Purchase Units Acquired at Cost 350 units @ $20 320 units @ $22 10 Sales 240 units @ $30 15 24 200 units @ $23 Purchase Sales 190 units @ $31 Multiple Choice $9,650 $9,880 O $9,560 O $8,760 O $8,990 O

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