In its first month of operations, Monty Inc. made three purchases of merchandise in the following sequence: (1) 390 units at $9 each, (2) 680 units at $12 each, and (3) 820 units at $11 each. A physical inventory count determined that there were 600 units on hand at the end of the month. Assuming Monty uses a periodic inventory system.

Calculate the cost of the ending inventory and cost of goods sold using by FIFO. Ending inventory Cost of goods sold