The inventory data of Bilal Inc. is provided below, The company uses perpetual inventory system.

Inventory: 1st March = 200 units @ $4.00 (purchased)

Purchases: 12th March = 500 units @ $4.50 (purchased)

15th March = 400 units @ $4.75 (purchased)

17th March = 828 units @ $5.00 (purchased)

Sales: 20th March = 1928 units sold

Instructions

Under a perpetual inventory system, determine the cost of goods sold and ending inventory for the month of March under FIFO method