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

310 units @ $16

5

Purchase

300 units @ $18

10

Sales

220 units @ $26

15

Purchase

180 units @ $19

24

Sales

170 units @ $27

A)$5,174

B)$4,860

C)$10,100

D)$7,880

E)$6,580

Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual 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	260 units @ $11
5	Purchase	275 units @ $13
10	Sales		195 units @ $21
15	Purchase	155 units @ $14
24	Sales		145 units @ $22

A)$3,900

B)$4,340

C)$4,040

D)$4,705

E)$8,605

Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using FIFO.

Date	Activities	Units Acquired at Cost	Units Sold at Retail
May 1	Beginning Inventory	160 units @ $11
5	Purchase	225 units @ $13
10	Sales		145 units @ $21
15	Purchase	105 units @ $14
24	Sales		95 units @ $22
A)$6,155 B)$3,215 C)$2,800 D)$3,355 E)$2,940