In its first year of business selling TVs, the XYZ COMPANY made the following purchases from its suppliers:

Jan 1 - 500 at a cost of $1000 each,

Jul 1 - 300 at a cost of $1200 each,

Oct 1 - 200 at a cost of $1300 each.

In that first year, he sold 750 TVs.

Assuming he is following the FIFO method of valuation, answer the following:

a) What was the Cost of Goods Sold?

b) What is the number of TVs in inventory at the end of the year?

c) What was the value of inventory at the end of the year?

(NOTE: Do not create a table. Simply lay out the data you are using in your calculations and then show your answers.)