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 Activities May 1 Beginning inventory May 5 Purchase May 10 Sales May 15 Purchase May 24 Sales Multiple Choice $3,110 $2,680 $5,790 $2,980 $2,720 Units Acquired at Cost 160 units @ $10 = $1,600 230 units @ $12 = $2,760 Units Sold at Retail 150 units @ $20 110 units @ $13 = $1,430 100 units @ $21