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	Activities	Units Acquired at Cost					Units Sold at Retail
May 1	Beginning inventory	190 units @ $10	=	$	1,900
May 5	Purchase	260 units @ $12	=	$	3,120
May 10	Sales						180 units @ $20
May 15	Purchase	140 units @ $13	=	$	1,820
May 24	Sales						130 units @ $21

Multiple Choice

• $3,380

• $3,110

• $3,340

• $3,500

• $3,370

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. Units Sold at Retail Date May 1 May 5 May 10 May 15 May 24 Activities Beginning inventory Purchase Sales Purchase Sales Units Acquired at Cost 190 units @ $10 = $1,900 260 units @ $12 = $3,120 180 units @ $20 140 units @ $13 = $1,820 130 units @ $21 Multiple Choice o $3,380 o $3,110 d $3,340 $3,500 O C $3,370