TB MC Qu. 05-160 (Algo) Salmone Company reported... Salmone Company reported the following purchases and sales of its only product Salmone uses a perpetual 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 160 units $18 - $1,600 Purchase 230 units 512 - $2,760 May 10 Sales 150 units @ $2e May 15 Purchase 110 units $13 - $1,430 May 24 Sales 100 units $21 ON May 5