Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using FIFO Date May 1 Activities Beginning inventory May 5 Purchase Units Acquired at Cost 150 units @ $10 = $1,500 220 units @ $12 = $2,640 Units Sold at Retail May 10 Sales May 15 Purchase 100 units @ $13 = $1,300 140 units @ $20 May 24 Sales 90 units @ $21