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The image provides the details of a FIFO (First-In, First-Out) inventory accounting question. Here's a breakdown of the problem and how to approach it:

### Details from the image:

#### Purchases:
1. **June 27:** 12 units @ $8 = $96
2. **June 28:** 38 units @ $9 = $342
3. **June 29:** 20 units @ $11 = $220

Total units purchased: 12 + 38 + 20 = **70 units**  
Total cost of goods available for sale: $96 + $342 + $220 = **$658**

On June 30, **46 units were sold**.

### Questions to address:

1. **Number and cost of goods available for sale:**
   - Number of units available: **70 units**
   - Total cost of goods available: **$658**

2. **Number of units in ending inventory (June 30):**
   - Total units available: 70
   - Units sold: 46
   - Ending inventory: 70 - 46 = **24 units**

3. **Cost of ending inventory and cost of goods sold under FIFO:**
   - Under FIFO, we assume the earliest goods purchased are sold first.
   - The units sold (46 units) are taken from the June 27 and June 28 purchases.

### FIFO Calculation:

- **Cost of Goods Sold:**
  - 12 units from June 27 @ $8 = $96
  - 34 units from June 28 @ $9 = 34 × $9 = $306
  - Total cost of goods sold: **$96 + $306 = $402**

- **Ending Inventory (24 units remaining):**
  - 4 units remaining from the June 28 purchase @ $9 = 4 × $9 = $36
  - 20 units from the June 29 purchase @ $11 = 20 × $11 = $220
  - Total ending inventory: **$36 + $220 = $256**

### Summary:

- **Cost of Goods Sold (FIFO):** $402
- **Cost of Ending Inventory (FIFO):** $256

The values provided in the answer box were:
- Ending Inventory: $225 (incorrect)
- Cost of Goods Sold: $431 (incorrect)

The correct values should be:
- **Ending Inventory:** $256
- **Cost of Goods Sold:** $402

Let me know if you need further clarification or details.

Here are five related questions for you:
1. How would LIFO (Last-In, First-Out) affect the ending inventory value?
2. How do rising prices impact FIFO and LIFO differently?
3. How would the weighted average cost method calculate the cost of goods sold?
4. What are the implications of choosing FIFO for tax purposes?
5. How does inventory management affect financial reporting?

**Tip:** FIFO typically results in lower cost of goods sold and higher ending inventory in periods of rising prices, which can impact profits and taxes.

Just One Product (JOP) began operating on June 26 with no inventory on hand. It then made the purchases listed below. JOP sold and delivered 46 units on June 30. Calculate the cost of ending inventory and the cost of goods sold under FIFO.

Learn how to calculate the cost of goods sold and ending inventory using the FIFO method for Just One Product (JOP). With units sold and purchases provided, explore a step-by-step solution for accurate inventory accounting.

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