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	150 units @ $10 = $1,500
May 5	Purchase	220 units @ $12 = $2,640
May 10	Sales		140 units @ $20
May 15	Purchase	100 units @ $13 = $1,300
May 24	Sales		90 units @ $21

Multiple Choice

• $2,590

• $2,460

• $5,440

• $2,980

• $2,860