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 180 units @ $10 = $1,800 May 5 Purchase 250 units @ $12 = $3,000 May 10 Sales 170 units @ $20 May 15 Purchase 130 units @ $13 = $1,690 May 24 Sales 120 units @ $21 Multiple Choice

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. Multple Cholce $2,090 $2,020 $3.610 $2,890 $3.600