TB MC Qu. 158 (Algo) Salmone Company reported... Salmone Company reported the following purchases and sales of its only product, Salmone uses a perpetua 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 240 units @ $19 May s Purchase 265 units @ $21 May 10 Sales 185 units @ $29 May is Purchase 145 units e $22 May 24 Sales 135 units @ $30 Multiple Choice 56,855 $6,460 $6,855 $6,460 $7,075 $7000 $6.240