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Salmone Company reported the following purchases and sales of its only product. Salmone uses a...

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Accounting

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.
\table[[Date,Activities,Units Acquired at Cost,Units Sold at Retail],[May 1,Beginning inventory,178 units @ $10=$1,780,],[May 5,Purchase,248 units @ $12=$2,976,],[May 10,Sales,,],[May 15,Purchase,128 units @ $13=$1,664,],[May 24,Sales,,118 units @ $20
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