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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 the ending

Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic 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 180 units @ $10 = $1,800
May 5 Purchase 250 units @ $12 = $3,000
May 10 Sales 170 units @ $20
May 15 Purchase 130 units @ $13 = $1,690
May 24 Sales 120 units @ $21

A. 3370

B. 3250

C. 3600

D. 6490

E. 3120

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