Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inv

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 Choiceentory 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