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. Units Sold at Retail Units Acquired at Cost 190 units @ $14 240 units @ $16 Date May 1 May 5 May 10 May 15 May 24 Activities Beginning Inventory Purchase Sales Purchase Sales 160 units @ $24 120 units @ $17 110 units @ $25