XYZ Inc. uses the FIFO method for inventory costing. For the year ended December 31, 2023, the following data is provided:

• Beginning Inventory: 500 units at $15 per unit
• Purchases:
  • February 1: 1,000 units at $18 per unit
  • June 1: 800 units at $20 per unit

• Sales:
  • 1,500 units sold during the year

• Ending Inventory: 800 units

a. Calculate the cost of goods sold (COGS) using the FIFO method. b. Determine the value of ending inventory using the FIFO method. c. Calculate the inventory turnover ratio and days sales in inventory (DSI) for XYZ Inc. d. Discuss how the choice between FIFO and LIFO affects inventory management efficiency.