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# Scenario 11: Inventory Valuation - FIFO Method: Given the following inventory purchases...

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Accounting

# Scenario 11: Inventory Valuation - FIFO Method:
Given the following inventory purchases and sales data for XYZ Company during the month of January:
January 1: Beginning Inventory -100 units at $10 per unit
January 10: Purchase -200 units at $12 per unit
January 20: Sale -150 units
January 25: Purchase -100 units at $14 per unit
January 31: Sale -150 units
Calculate the cost of goods sold and ending inventory using the FIFO (First-In, First-Out) inventory valuation method.

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