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. DateActivitiesUnits Acquired at CostUnits Sold at RetailMay 1Beginning Inventory170 units @ $12 5Purchase230 units @ $14 10Sales 150 units @ $2215Purchase110 units @ $15 24Sales 100 units @ $23
A. $3750
B. $3640
C. $3310
D. $3600
E. $3160
Answer: D
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