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 May 1 May 5 May 10 May 15 May 24 Activities Beginning inventory Purchase Sales Purchase Sales Units Acquired at Cost 166 units @ $10-$1,660 236 units $12-$2,832 Units Sold at Retail 116 units # $13-$1,500 156 units @ $20 106 units $21 Multiple Choice $3,250 $2,812 $3,260