ces TB MC Qu. 05-159 (Algo) Salmone Company reported... Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using FIFO. Date May 1 May 5 Activities Beginning inventory Purchase Units Acquired at Cost 162 units @ $10 = $1,620 232 units @ $12 = $2,784 Units Sold at Retail May 10 Sales 152 units @ $20 May 15 Purchase 112 units $13 = $1,456 May 24 Sales 102 units @ $21 Multiple Choice $3,136