Periodic System Calculating Ending Inventory and Cost of Sales using FIFO

The following information is available for Water Inc. The company maintains a period inventory system. A physical count shows 225 units in stock on January 31. What is (a) ending inventory on January 31, and (b) cost of goods sold for January, using the FIFO inventory method?

Date	Units	Unit Cost
January 1, 2020 (beginning inventory)	180	$50.00
Purchases: January 10, 2020	135	52.00
January 15, 2020	270	52.50
January 30, 2020	180	55.00

• Note: Round your final answers below to the nearest whole dollar.
• Note: Use your rounded ending inventory answer to compute part b. cost of goods sold.

a. Ending inventory on January 31, 2020	Answer
b. Cost of goods sold for January	Answer