Peterson Company reported the following purchases and sales of its only product. Peterson uses a periodic Inventory system. Determine the cast assigned to cost of goods sold in FIFO Date Activities Units Acquired at Cost Units sold at Retail May 1 Beginning Inventory 350 units $20 5 Purchase 320 units $22 10 Sales 240 units $30 Purchase 200 units $23 Sales 198 units a $31 15 Mucho 500