es, and improvements, choose Check for Updates. Solve the following problems in details. 14. A firm has beginning inventory of 150 units at a cost of $10 each. Production during the period was 650 units at $13 each. If sales were 600 units, what is the cost of goods sold assume FIFO)? What is the value of the ending inventory using FIFO? 15. Wiggles Right forecasted sales of $4,000 in January, $6,000 in February and $5,500 in March. All sales are on credit. 40% is collected the month of sale and the remainder the following month. How much is collected in February