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 May 1 May 5 May 10 May 15 May 24 Activities Beginning inventory Purchase Sales Purchase Sales Units Acquired at Cost 172 units @ $10 = $1,720 242 units @ $12 = $2,904 122 units @ $13 = $1,586 Units Sold at Retail 162 units @ $20 112 units @ $21

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 LFO