the accounting records of Walls China Shop reflected the following balances as of January 1, Year 2:

Cash $ 19,200

Beginning inventory 18,490 (215 units @ $86)

Common stock 15,000

Retained earnings 22,690

The following five transactions occurred in Year 2:

First purchase (cash) 115 units @ $88

Second purchase (cash) 195 units @ $96

Sales (all cash) 360 units @ $189

Paid $15,850 cash for salaries expense

Paid cash for income tax at the rate of 25 percent of income before taxes

Required: Compute the cost of goods sold and ending inventory, assuming (1) FIFO cost flow,