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	220 units @ $17
5	Purchase	255 units @ $19
10	Sales		175 units @ $27
15	Purchase	135 units @ $20
24	Sales		125 units @ $28

Multiple Choice

$5,260

$5,940

$6,025

$5,825

$5,460