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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 ending inventory

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 150 units @ $10.00 May 5 Purchase 220 units @ $12.00 140 units @ $20.00 May 10 Sales 100 units @ $13.00 90 units @ $21.00 May 15 Purchase Sales Multipie Choice $2,260 $2,580 $3,180

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