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La Petite Fromagerie operates a cheese shop. The following data pertains to its inventory: Beginning Inventory: 1,000 units at 10 each Purchases: January: 2,000 units
La Petite Fromagerie operates a cheese shop. The following data pertains to its inventory:
- Beginning Inventory: 1,000 units at €10 each
- Purchases:
- January: 2,000 units at €12 each
- February: 1,500 units at €14 each
- Sales:
- January: Sold 2,500 units
- February: Sold 1,200 units
Calculate the cost of goods sold (COGS) for January and February using the FIFO method.
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