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	310 units @ $16
5	Purchase	300 units @ $18
10	Sales		220 units @ $26
15	Purchase	180 units @ $19
24	Sales		170 units @ $27

Multiple Choice

$7,380

$7,040

$6,400

$6,590

$7,190