1 1 of 3 Required information M7-7 to M7-9 Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic FIFO, LIFO, and weighted Average Cost [LO 7-3] (The following information applies to the questions displayed below.) The following are the transactions for the month of July. Unit Selling Price July 1 Beginning Inventory July 13 Purchase July 25 Sold July 31 Ending Inventory Units Unit Cost $10 205 12 (100) $16 M7-7 Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic FIFO [LO 7-3) Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic Inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.) FIFO (Periodic) Units Cost per Unit Total Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold Total Cost of Goods Sold Ending Inventory EIFO (Periodic Sales Cost of Goods Sold Gross Profit Required information M7-7 to M7-9 Calculating Cost of Goods Available for Sale, Ending Invent Sold, and Gross Profit under Periodic FIFO, LIFO, and Weighted Average [The following information applies to the questions displayed below. The following are the transactions for the month of July. Unit Selling Price July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold Ending Inventory Units Unit Cost 41 $10 205 12 (100) 146 $16 M7-8 Calculating Cost of Goods Available for Sale, Ending Inventory, S Gross Profit under Periodic LIFO (LO 7-3] Calculate cost of goods available for sale and ending inventory, then sales, cost of goods s periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your fi amount.) LIFO (Periodic) Cost per Units Unit Total Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold Total Cost of Goods Sold Ending Inventory LIFO (Periodic) Sales Cost of Goods Sold Gross Profit Saved uiz ! Required information M7-7 to M7-9 Calculating Cost of Goods Available for Sale, Ending Inventory, Sales Sold, and Gross Profit under Periodic FIFO, LIFO, and Weighted Average Cost (LO (The following information applies to the questions displayed below.) The following are the transactions for the month of July. Unit Selling Price July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold Ending Inventory Units Unit Cost 41 $10 205 12 100) 146 $16 M7-9 Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Co Gross Profit under Periodic Weighted Average Cost [LO 7-3) Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gr average cost. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal plac nearest whole dollar amount.) Weighted Average (Periodic) Units Cost per Unit Total Beginning Inventory Purchases Goods Available for Sale Cost of Goods Sold Ending Inventory Weighted Average (Periodic) Sales Cost of Goods Sold Gross Profit