Determine the ending inventory value for Apple Inc. using the FIFO method.

Item	Units	Cost per Unit ($)
Beginning Inventory	150	12
Purchases:
- First Purchase	250	13
- Second Purchase	400	16
Units Sold	600

Question:

Using the given data, calculate the ending inventory value for Apple Inc. using the FIFO method. Show your calculations and explain the impact of using the FIFO method on the cost of goods sold and net income.