Saimon Company reported the foowing purchases and sales of ts only product. Salmone uses a perpetuo inventory system Determine the cost assigned to ending inventory using LIFO Det w 1 ir totalt Activities Bezinning in entry chase Sales Purchase Sales the houette 310 units. 516 200 units 30 16 24 200 units 320 170327 M 170 NO o 523 7040 In applying the lower of cost or market method to LIFO inventory valuation, market is defined as: Multiple Choice Historical cost Current replacement cost. O Current sales price FIFO LIFO