Consider the following data of the Babel company for the year 1991:

Finished goods inventory, Jan. 1: 600 units; Dec 31: 720 units, all from year 1991 production. Sold during the year: 4,180 units. The company uses FIFO method in costing its inventory.

Required:

(1) Prepare a detailed cost of goods manufactured and sold statement.

(2) The unit cost of finished goods inventory on Dec 31.