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Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to the ending

Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to the ending inventory using FIFO.
Date Activities Units Acquired at Cost Units Sold at Retail
May 1 Beginning inventory 190 units @ $10= $1,900
May 5 Purchase 260 units @ $12= $3,120
May 10 Sales 180 units @ $20
May 15 Purchase 140 units @ $13= $1,820
May 24 Sales 130 units @ $21

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