Analyze the inventory valuation for Le Fromage Gourmet using the LIFO (Last-In-First-Out) and FIFO (First-In-First-Out) methods. The following data is available:

• Beginning Inventory: 500 units at €10 each
• Purchases:
  • January: 1,000 units at €12 each
  • February: 800 units at €14 each

Sales:

• January: Sold 1,200 units
• February: Sold 700 units

Calculate the cost of goods sold (COGS) and ending inventory value for January and February using both LIFO and FIFO methods.