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 $150$ units @ $$10\mathrm{.}00$

May $5$ Purchase $220$ units @ $$12\mathrm{.}00$

May $10$ Sales $140$ units @ $$20\mathrm{.}00$

May $15$ Purchase $100$ units @ $$13\mathrm{.}00$

May $24$ Sales $90$ units @ $$21\mathrm{.}00$

Multiple Choice

$$2,460$

$$2,860$

$$2,980$

$$2,850$

$$2,590$