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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 Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning inventory 156 units @ $10=$1,560 May 5 Purchase 226 units @$12=$2,712 May 10 Sales 146 units @ $20 May 15 Purchase 106 units @$13=$1,378 May 24 Sales 96 units @ \$21