salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to the ending inventory using FIFO.Date Activities Units Acquired at Cost Units Sold at RetailMay 1 Beginning Inventory 220 units @ $17May 5 Purchase 255 units @ $19May 10 Sales 175 units @ $27May 15 Purchase 135 units @ $20May 24 Sales 125 units @ $28