Salmone Company reported the following purchases and sales for its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using LIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 280 units @ $13 5 Purchase 285 units @ $15 10 Sales 205 units @ $23 15 Purchase 165 units @ $16 24 Sales 155 units @ $24 Multiple Choice $4,840 $5,555 $5,715 $5,360