Spilly Ltd$.$ uses the periodic inventory system and applied FIFO inventory costing. At the end of the annual accounting period, December $31,2024,$ the accounting records for the best selling item in inventory showed:

Transartions

Beginning inventory, Jan. $1,{2024}_{{?}_{?}}$

Purchase, Feb. $1$

Sale, March $15($sold at $$26$ each$)$

Purchase, May $15$

Sale, July $31($sold at $$35$ each$)$

Units Unit Cost

$400,$$$18$

$1,000,21$

$(800)$

$500$

$(400)$

Required: Determine the following $($show detailed computations to support your answer$)($round to nearest dollar$)$:

Goods available for sale

Ending inventory value

Cost Of Goods Sold