Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic 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	240 units @ $19
5	Purchase	265 units @ $21
10	Sales		185 units @ $29
15	Purchase	145 units @ $22
24	Sales		135 units @ $30

• $6,240

• $7,000

• $7,075

• $6,855

• $6,460