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 $186$ units @ $$10=$ $$1,860$

May $5$ Purchase $256$ units @ $$12=$ $$3,072$

May $10$ Sales $176$ units @ $$20$

May $15$ Purchase $136$ units @ $$13=$ $$1,768$

May $24$ Sales $126$ units @ $$21$

Multiple Choice

$$3,318$

$$3,058$

$$3,252$

$$6,700$

$$3,448$