XYZ Inc has the following inventory transactions for the month of January January 1 Beginning Inventory of 500 units at a cost of $10 per unit January 10 Purchased 1,000 units at a cost of $12 per unit January 20 Sold 1,200 units for a total revenue of $27,000 January 25 Purchased 600 units at a co...

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XYZ Inc. has the following inventory transactions for the month of January: January 1: Beginning Inventory of

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XYZ Inc. has the following inventory transactions for the month of January:

January 1: Beginning Inventory of 500 units at a cost of $10 per unit.
January 10: Purchased 1,000 units at a cost of $12 per unit.
January 20: Sold 1,200 units for a total revenue of $27,000.
January 25: Purchased 600 units at a cost of $15 per unit.
January 30: Sold 1,000 units for a total revenue of $24,000.

Using the FIFO inventory method, what is the cost of goods sold and ending inventory for the month of January? Show all calculations.

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XYZ Inc. has the following inventory transactions for the month of January: January 1: Beginning Inventory of

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