Assume that Martinez Company has the following transactions in its first month of operations.

Date		Purchases		Sold		Balance
Feb. 1		2,100 @ $3.60				2,100 units
Feb. 10		6,200 @ $3.95				8,300 units
Feb. 21				4,400 units		3,900 units
Feb. 28		2,100 @ $4.30				6,000 units

Martinez uses a perpetual inventory system.

(a)

Compute cost of goods sold and ending inventory at February 28, assuming Martinez uses the FIFO cost flow assumption.

Cost of goods sold		$
Ending inventory		$