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 290 units @ $14 5 Purchase 290 units @ $16 10 Sales 210 units @ $24 15 Purchase 170 units @ $17 24 Sales 160 units @ $25 Multiple Choice $6,250 $5,340 $6,080 $5,510 $11,590