Strods Company reported the following purchases and sales of its only product. Strods uses a periodic 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 190 units @ $14 5 Purchase 240 units @ $16 10 Sales 160 units @ $24 15 Purchase 120 units @ $17 24 Sales 110 units @ $25