Question: Alpha Company uses the FIFO method for inventory valuation. The following information is available for the month of June 2024: Beginning Inventory: 1,000 units at

Alpha Company uses the FIFO method for inventory valuation. The following information is available for the month of June 2024:

  • Beginning Inventory: 1,000 units at SAR 10 per unit
  • Purchases:
    • June 10: 2,000 units at SAR 12 per unit
    • June 20: 1,500 units at SAR 15 per unit
  • Sales:
    • June 15: 2,500 units
    • June 25: 1,000 units Calculate the cost of goods sold, ending inventory, and gross profit for Alpha Company using the FIFO method.

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