# Scenario $11$: Inventory Valuation $-$ FIFO Method:

Given the following inventory purchases and sales data for XYZ Company during the month of January:

January $1$: Beginning Inventory $-100$ units at $$10$ per unit

January $10$: Purchase $-200$ units at $$12$ per unit

January $20$: Sale $-150$ units

January $25$: Purchase $-100$ units at $$14$ per unit

January $31$: Sale $-150$ units

Calculate the cost of goods sold and ending inventory using the FIFO $($First$-$In$,$ First$-$Out$)$ inventory valuation method.