Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to ending inventory using LIFO. DateActivitiesUnits Acquired at CostUnits Sold at RetailMay 1Beginning Inventory240 units @ $19 5Purchase265 units @ $21 10Sales 185 units @ $2915Purchase145 units @ $22 24Sales 135 units @ $30
A. $9300
B. $4350
C. $7900
D. $4843
E. $6450
Answer: E
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