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 $186$ units @ $$10=$ $$1,860$

May $5$ Purchase $256$ units @ $$12=$ $$3,072$

May $10$ Sales $176$ units @ $$20$

May $15$ Purchase $136$ units @ $$13=$ $$1,768$

May $24$ Sales $126$ units @ $$2114$

TB MC Qu$.05-163($Algo$)$ Salmone Company reported the following...

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.

$1$ points

$\backslash$table$[[$Date$,$Activities,Units Acquired at Cost,Units Sold at Retail$],[$May $1,$Beginning inventory,$186$ units @ $$10=$$$1,860,],[$May $5,$Purchase,$256$ units @ $$12=$$$3,072,],[$May $10,$Sales,,$176$ units @ $$20$