5 Miller Corporation uses a periodic inventory system and has the following inventory information available for the year. 7 8 9 Jan 1 Beginning inventory Jan 20 Purchase Jul 25 Purchase Nov 20 Purchase Units Unit Cost 100 $ 500 $ 100 $ 300 $ a) 1,000 4.00 5.00 6.00 7.00 Total Cost $ $ 400 2,500 600 2,100 5,600 An inventory count on December 31st revealed that there were 350 units on hand Required: (answer each question independently and show your work) Assume the company uses FIFO for inventory measurement. i) What is the value of the ending inventory at December 31st? ii) What is the COGS for the year?

Miller Corporation uses a periodic inventory system and has the following inventory information availahle for the vear An inventory count on December 31 st revealed that there were 350 units on hand Required: (answer each question independently and show your work) a) Assume the company uses FIFO for inventory measurement i) What is the value of the ending inventory at December 31 st? ii) What is the COGS for the year