Calculate cost of goods sold (COGS) and ending inventory using FIFO method.

Item	Units	Unit Cost ($)
Beginning Inventory	2,000 units	$20
Purchase 1	5,000 units	$22
Purchase 2	3,000 units	$25
Ending Inventory	3,500 units	-

Requirements:

Calculate the cost of goods sold (COGS) for the period using the FIFO method.

Calculate the value of ending inventory.

Analyze the impact of FIFO method on COGS and ending inventory valuation.