Question: Company BB uses the FIFO method for inventory valuation. At the beginning of February, the company has 2,000 units of inventory at $15 per unit.

Company BB uses the FIFO method for inventory valuation. At the beginning of February, the company has 2,000 units of inventory at $15 per unit. During February, the company purchases 3,000 units at $18 per unit and sells 4,000 units at $25 per unit.

Calculate the cost of goods sold and ending inventory for February.

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