TB MC Qu. 05-161 (Algo) Salmone Company reported... 18 Salmone Company reported the following purchases and sales for its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using LIFO. 1 points Date May 1 May 5 Activities Beginning inventory Purchase Units Acquired at Cost 190 units @ $10 = $ 1,900 260 units @ $12 = $ 3,120 Units Sold at Retail May 10 Sales Skipped 180 units @ $20 May 15 Purchase 140 units @ $13 $ 1,820 May 24 Sales 130 units @ $21 eBook Multiple Choice Ask Print $3,860 References $2,860 $2,990 $3,850 $3,980