Salmone Company Reported the Following Purchases and Sales of Its

Multiple Choice

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.
$$\begin{array} { | c | l | l | l | } \hline \text { Date } & \text { Activities } & \text { Units Acquired at Cost } & \text { Units Sold at Retail } \\\hline & \text { Beginning } & & \\\text { May 1 } & \text { Inventory } & 150 \text { units @ } \$ 10.00 & \\\hline 5 &\text { Purchase } & \text { 220units @ \$12.00 } & \\\hline 10 &\text { Sales } & & 140 \text { units @ } \$ 20.00 \\\hline 15&\text { Purchase } & 100 \text { units @ } \$ 13.00 & \\\hline \text { 24 } & \text { Sales } & & 90 \text { units @ } \$ 21.00 \\\hline\end{array}$$

A) $5,440
B) $2,460
C) $2,590
D) $2,980
E) $2,860