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

Date	Activities	Units Acquired at Cost	Units Sold at Retail
May 1	Beginning Inventory	330 units @ $18
5	Purchase	310 units @ $20
10	Sales		230 units @ $28
15	Purchase	190 units @ $21
24	Sales		180 units @ $29

Multiple Choice

• $16,130

• $7,540

• $7,750

• $8,590

• $8,260