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

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