A firm has beginning inventory of 150 units at a cost of $10 each.  Production during the period was 650 units at $13 each.  If sales were 600 units, what is the cost of goods sold (assume FIFO)? What is the value of the ending inventory using FIFO? Show your work

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Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.