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	174 units @ $10 = $1,740
May 5	Purchase	244 units @ $12 = $2,928
May 10	Sales		164 units @ $20
May 15	Purchase	124 units @ $13 = $1,612
May 24	Sales		114 units @ $21

Multiple Choice

• $3,292

• $2,988

• $3,162

• $2,902

• $3,172