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 May 10 Purchase Sales May 15 Purchase May 24 Sales: Units Acquired at Cost 164 units @$10 = $1,640 234 units @ $12 = $2,808 Units Sold at Retail 154 units @ $20 114 units @ $13 = $1,482 104 units @$21