XYZ commenced operations on 1 June 2016 selling one type of shirt. The company uses FIFO (first in, first out) and perpetual inventory control. The June inventory and sales records for the shirts were as follows:

1. Calculate COGS for the month ended 30 June 2016.
2. Calculate the cost of ending inventory as at 30 June 2016.
3. Calculate gross profit for the month ended 30 June 2016.
4. Assume that on 30 June, a total of 400 units (not 200 units) were purchased for $15 each. Calculate the gross profit for the month ended 30 June 2016, based on this assumption.

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Date Purchase price unit Units Units Selling price Units on purchased sold per unit hand June 1 $11 1500 1.500 10 $12 900 2400 12 300 $15 2100 17 $14 600 2700 23 1800 $15 900 27 $13 1500 2 400 29 700 $17 1700 30 $15 200 1900