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	310 units @ $16
5	Purchase	300 units @ $18
10	Sales		220 units @ $26
15	Purchase	180 units @ $19
24	Sales		170 units @ $27

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