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 Activities Beginning Inventory Date Units Acquired at Cost Units Sold at Retail May 1 280 units $13 285 units 8 $15 5 Purchase 10 15 Purchase 24 Sales 205 units $23 165 units $16 Sales 155 units $24 Multiple Choice $5,715 $4,840 $5,555 $10,555