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	188 units @ $10 = $1,880
May 5	Purchase	258 units @ $12 = $3,096
May 10	Sales		178 units @ $20
May 15	Purchase	138 units @ $13 = $1,794
May 24	Sales		128 units @ $21

Multiple Choice

• $3,296

• $3,810

• $3,930

• $3,800

• $3,426