Salomon company reported the following purchases and sales of its only product Salomon 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. Date May 1 5 10 15 24 Activities Beginning Inventory Purchase Sales Purchase Sales Units Required at Cost Units Sold at Retail 290 units @ $14 290 units @ $16 210 units @ $24 170 units @ $17 160 units @ $25 Multiple Choice $5.340 $5,340 $6.250 $5.900 $6,080 $5.500