Shellhammer Company's inventory records show the following data for the month of September:

Units

Unit Cost

Inventory, September 1

100

$3.34

Purchases:	September 8	450	3.50
	September 18	350	3.70

A physical inventory on September 30 shows 200 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses FIFO inventory costing and a periodic inventory system.