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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 186 units @ $10= $1,860
May 5 Purchase 256 units @ $12= $3,072
May 10 Sales 176 units @ $20
May 15 Purchase 136 units @ $13= $1,768
May 24 Sales 126 units @ $21

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