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 May 5 May 10 May 15 May 24 Activities Beginning inventory Purchase Sales Purchase Sales Units Acquired at Cost 190 units @ $10 = $1,900 260 units @ $12 $3,120 Units Sold at Retail = 180 units @ $20 140 units @ $13 = $1,820 130 units @ $21 Multiple Choice