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	210 units @ $16
5	Purchase	250 units @ $18
10	Sales		170 units @ $26
15	Purchase	130 units @ $19
24	Sales		120 units @ $27

What is the correct answer?

Multiple Choice

• $5,530

• $4,800

• $5,340

• $4,990

• $5,440