Applying and Analyzing Inventory Costing Methods

At the beginning of the current period, Chen carried $1,000$ units of its product with a unit cost of $$22.$ A summary of purchases during the current period follows:

$\backslash$table$[[,$Units,Unit$],[$Cost$,$Cost,,,,,,$],[$Beginning Inventory,$1,000,$$$22,$$$22,000,,,,],[$Purchases:$,$#$1,1,800,24,43,200,,,],[,$#$2,800,28,22,400,,,],[,$#$3,1,200,31,37,200,,,]]$

During the current period, Chen sold $2,800$ units.

a$.$ Assume that Chen uses the first$-$in$,$ first$-$out method. Compute its cost of goods sold for the current period and the ending inventory balance.

$\backslash$table$[[$Cost of Goods Sold,$$,4x$