Danube Company is a manufacturing company that produces and sells furniture. The company uses the FIFO method for inventory valuation and reports under International Financial Reporting Standards $($IFRS$).$ As of December $31,2023,$ Danube Company has the following information: Raw materials inventory: $1,000$ units at a cost of $$10$ per unit. Finished goods inventory: $200$ units at a cost of $$50$ per unit. During the year $2023,$ the following transactions occurred:

$1.$ Each unit of finished goods requires $2$ units of raw materials for production.

$2.$ Purchased $2,000$ units of raw materials at a cost of $$12$ per unit.

$3.$ Used $1,500$ units of raw materials in production.

$4.$ Incurred $$30,000$ of conversion costs during production.

$5.$ Sold $500$ units of finished goods for a total price of $$40,000.$

$6.$ Cost of raw materials used in production $=$ $$16,000$

Require

$2.$ Compute the cost of finished goods produced during the year.

$3.$ Calculate the carrying value of finished goods inventory at the end of the year.

$4.$ Prepare a journal entry to record the sale of finished goods

$5.$ Would there be any difference in value of inventory if weighted average method is used? Show the calculation.