Walmart uses FIFO inventory method. The following inventory data is available for the month of May:

Date	Purchases	Units	Unit Cost
May 1	Beginning Inventory	1,000	$10
May 10	Purchase	2,000	$12
May 20	Purchase	3,000	$14
May 30	Sales	4,000	$20

Requirements:

1. Prepare the Cost of Goods Sold Statement using FIFO.
2. Calculate the ending inventory value.
3. Determine the Gross Profit for May.
4. Analyze the impact of FIFO on the financial statements.