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	190 units @ $14
5	Purchase	240 units @ $16
10	Sales		160 units @ $24
15	Purchase	120 units @ $17
24	Sales		110 units @ $25