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 $170$ units @ $$10=$ $$1,700$

May $5$ Purchase $240$ units @ $$12=$ $$2,880$

May $10$ Sales $160$ units @ $$20$

May $15$ Purchase $120$ units @ $$13=$ $$1,560$

May $24$ Sales $110$ units @ $$21$

Multiple Choice

$$3,240$

$$2,900$

$$3,110$

$$2,850$

$$3,120$