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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

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.
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.
May 1 Beginning inventory 172 units @ $10= $1,720
May 5 Purchase 242 units @ $12= $2,904
May 10 Sales 162 units @ $20
May 15 Purchase 122 units @ $13= $1,586
May 24 Sales 112 units @ $21
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