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.

Date

May $1$

May $5$

May $10$

May $15$

May $24$

Activities

Beginning inventory

Purchase

Sales

Purchase

Sales

Units Acquired at Cost

$166$ units @$$10=$$$1,660$

$236$ units @ $$12=$$$2,832$

$116$ units @ $$13=$$$1,508$

$116$ units @$$13=$$$1,508$

Units Sold at Retail

$156$ units @ $$20$

$106$ units @ $$21$

Multiple Choice

$$3,260$

$$2,620$

$$2\mathrm{.}750$

$$3,250$

$$3,380$