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.

Date	Activities	Units Acquired at Cost	Units Sold at Retail
May 1	Beginning inventory	186 units @ $10 = $1,860
May 5	Purchase	256 units @ $12 = $3,072
May 10	Sales		176 units @ $20
May 15	Purchase	136 units @ $13 = $1,768
May 24	Sales		126 units @ $21

Multiple Choice

• $4,116

• $3,940

• $3,124

• $2,640

• $2,940