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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 Sold at Retail May 1 May 5 Beginning Inventory Purchase Units Acquired at Cost 154 units @ $10= $1,540224 units @ $12= $2,688 May 10 Sales. 144 units @ $20 May 15 Purchase 104 units @ $13= $1,352 May 24 Sales. 94 units @ $21

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