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	330 units @ $18
May 5	Purchase	310 units @ $20
May 10	Sales		230 units @ $28
May 15	Purchase	190 units @ $21
May 24	Sales		180 units @ $29

Multiple Choice

• $8,260

• $7,540

• $7,750

• $8,380

• $8,590