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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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