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 300 units @ $15 Purchase 295 units @ $17 10 Sales 215 units @ $25 15 Purchase 175 units @ $18 24 Sales 165 units @ $26 5 Multiple Choice $6,625 $5,860 Multiple Choice $6,625 $5,860 $6.460 56.805 $6.040