Salmone Company Reported the Following Purchases and Sales for Its

Multiple Choice

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

A) $2,980
B) $2,590
C) $2,850
D) $2,860
E) $2,460