Complete each sentence by selecting the correct term using the drop$-$down list.

Abbey Company completed the annual count of its inventory. During the count, certain items were identified as requiring special

attention. Decide how each item would be handled for Abbey Company's inventory.

Assume that we use a perpetual inventory system and that five identical units are purchased at the following dates and costs:

One unit is sold on April $25.$ The company uses the first$-$in$,$ first$-$out $($FIFO$)$ inventory costing method.

Identify the cost of the ending inventory on the balance sheet