inventory & sales activity for the month of May 2019: Date Activity Quantity Unit Price 5/1 Beginning Inventory 100 $10 5/5 Purchase 200 $12 5/15 Purchase 260 $14 5/25 Purchase 300 $16 Sales were 480 units at $20. Using the FIFO method, determine the dollar value of Cost of Goods Sold for the month of May