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	200 units @ $15
May 5	Purchase	245 units @ $17
May 10	Sales		165 units @ $25
May 15	Purchase	125 units @ $18
May 24	Sales		115 units @ $26

Multiple Choice

• $5,055

• $4,360

• $4,875

• $4,540

• $9,415