Salmone Company reported the following purchases and sales o…

Sаlmоne Cоmpаny repоrted the following purchаses 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 220 units @ $17   May 5 Purchase 255 units @ $19   May 10 Sales   175 units @ $27 May 15 Purchase 135 units @ $20   May 24 Sales   125 units @ $28