A retail store sells electronics. During a month, the store had the following transactions:

Beginning Inventory:

50 Smartphones purchased at $300 each

30 Laptops purchased at $700 each

28 Tablets purchased at $250 each

Purchases During the Month:

62 Smartphones purchased at $345 each

35 Laptops purchased at $765 each

35 Tablets purchased at $300 each

Sales During the Month:

84 Smartphones

42 Laptops

52 Tablets

Calculate the cost of ending inventory using the FIFO Method. Also, determine value of COGS for the

month. Show your calculations.