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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 ending inventory

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 220 units @ $17
5 Purchase 255 units @ $19
10 Sales 175 units @ $27
15 Purchase 135 units @ $20
24 Sales 125 units @ $28

Multiple Choice

$4,185

$6,800

$3,780

$7,660

$5,450

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