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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

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 162 units @ $10 = $1,620
May 5 Purchase 232 units @ $12 = $2,784
May 10 Sales 152 units @ $20
May 15 Purchase 112 units @ $13 = $1,456
May 24 Sales 102 units @ $21

Multiple Choice

$3,136

$2,724

$3,006

$2,746

$3,016

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