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 5 Purchase 10 Sales. 15 Purchase 24 Sales Multiple Choice $4,360 $5,050 $5,200 Units Acquired at Cost Units Sold at Retail 270 units @ $12 280 units @ $14 200 units $22 160 units @ $15 150 units @ $23 Multiple Choice $4,360 $5,050 $5,200 $9.560 $4,510