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 Units Acquired at Cost Units Sold at Retail May 1 Beginning inventory 180 units @ $10 = $1,800 May 5 Purchase 250 units @ $12 - $ 3,000 May 10 Sales 170 units @ $20 May 15 Purchase 130 units @ $13$ 1,690 May 24 Sales 120 units @ $21 $3,370 $2,980 $3,240 $3,120 O $6,490 QUESTION 14 Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic Inventory system. Determine the cost assigned to cost of goods sold using FIFO Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning inventory 170 units @ $10 = $ 1,700 May 5 Purchase 240 units @ $12 * $ 2,880 May 10 Sales 160 units @ $20 May 15 Purchase 120 units @ $13 = $1,560 May 24 Sales 110 units @ $21 $3,350 $3,480 $2.900 $3,030 $3,360