TB MC Qu$.05-161($Algo$)$ Salmone Company reported...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. TB MC Qu$.05-161($Algo$)$ Salmone Company reported...

Salmone Company reported the following purchases and sales for its only product. Salmone uses a perpetua$/$inventory system. Determine the cost assigned to

cost of goods sold using LIFO.

Date Activities Units Acquired at Cost Units Sold at Retail

May $1$ Beginning inventory $178$ units @ $$10=$ $ $1,780$

May $5$ Purchase $248$ units @ $$12=$ $ $2,976$

May $10$ Sales $168$ units @ $$20$

May $15$ Purchase $128$ units @ $$13=$ $ $1,664$

May $24$ Sales