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 Units Sold at Retail Activities Beginning inventory Purchase Sales Purchase Sales Units Acquired at Cost 172 units @ $10 = $1,720 242 units @ $12 = $2,904 May 1 May 5 May 10 May 15 May 24 162 units @ $20 122 units @ $13 - $1,586 112 units @ $21 Multiple Choice O $3.266 O 52,944 O $3,136 O $2.876 O 53,16