Arthur has a bird shop that sells canaries. Arthur maintains accurate records on the number of birds purchased from its suppliers and the number sold to customers. The records show the following purchases and sales during $2024.$

 

Date Transactions                           Units                    Unit Cost               Total Cost

 

 January $\mathrm{}$Beginning inventory $\mathrm{ \; \; \; \; 2}5$                           $$30$                        $$750$ 

 

 April $1\mathrm{4\; }$Purchase                          $70322,240$ 

 

 August $22$ Purchase                     $120344,080$ 

 

 October $29$ Purchase $\mathrm{ \; \; \; \; \; \; \; \; \; \; \; 8}5363,060$ 

 

$\mathrm{ \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; 3}0\mathrm{0 \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; }$ $$10,130$

January $1$ to December $31$ Sales $($$$50$ each$)270$

Arthur uses a periodic inventory system and believes there are $30$ birds remaining in ending inventory. However, Arthur neglects to make a final inventory count at the end of the year. An employee accidentally left one of the cages open one night and $10$ birds flew away, leaving only $20$ birds in ending inventory. Arthur is not aware of the lost canaries.

$2.$ What amount would Arthur calculate for ending inventory and cost of goods sold using FIFO if he knew that only $20$ canaries remain in ending inventory?