Jessie Stores uses the periodic system of calculating inventory. The following information is available for December of the current year, when Jessie Stores sold 500 units of inventory.
![1629_268-B-A-V-I (875).png](https://secure.tutorsglobe.com/CMSImages/1629_268-B-A-V-I (875).png)
Using the FIFO method, calculate Jessie Stores inventory on December 31 and its cost of goods sold for December.