Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to ending inventory using LIFO. DateActivitiesUnits Acquired at CostUnits Sold at RetailMay 1Beginning Inventory330 units @ $18 5Purchase310 units @ $20 10Sales 230 units @ $2815Purchase190 units @ $21 24Sales 180 units @ $29
A. $16,130
B. $8590
C. $7750
D. $8260
E. $7540
Answer: C
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