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

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Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to ending inventory using LIFO. Units Sold at Retail Date May 1 5 10 15 Units Acquired at Cost 300 units @ $15 295 units @ $17 Activities Beginning Inventory Purchase Sales Purchase Sales 215 units @ $25 175 units @ $18 24 165 units @ $26

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