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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 ending Inventory

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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 ending Inventory using LIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 160 units @ $11 5 Purchase 225 units @ $13 10 Sales 145 units @ $21 15 Purchase 105 units @ $14 24 Sales 95 units @ $22 O $2.940 O $6.155 O $3,240 O $2.800 O $3,355

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