Saved Help Save & Exit TB MC Qu. 06-162 Salmone Company reported the following... Salmone Company reported the following purchases and sales of its only product Salmone uses a periodic 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 270 units @ $12 5 Purchase 280 units $14 10 Sales 200 units @ $22 Purchase 160 units $15 Sales 150 units @ $23 15 24