Assume that 1700 units are sold during the year. Compute the cost of goods sold for the year and the inventory on the year-end balance sheet under the following inventory costing method:

A. FIFO

53 Bad debt exp 55 M6-16 57 Inventory balance at beginning of the year 58 Inventory purchases during the year 59 COGS available for sale during the year 60 61 assume 1700 units are sold during the year 62 Sheet1 Ready 1000 units $125 each 125,000.00 1500 units $150 each 225,000.00 350,000.00 2500