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M$7-11$ to $13($Algo$)$ Calculating Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory under Periodic FIFO, LIFO, and Weighted Average Cost $[$LO $7-3]$

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In its first month of operations, Literacy for the llliterate opened a new bookstore and bought merchandise in the following order: $(1)460$ units at $$5$ on January $1,(2)620$ units at $$6$ on January $8,$ and $(3)920$ units at $$7$ on January $29.$

M$7-11($Algo$)$ Calculating Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory under Periodic FIFO $[$LO $7-3]$

Assuming $1,200$ units are on hand at the end of the month, calculate the cost of goods available for sale, ending inventory, and cost of goods sold under FIFO. Assume a periodic inventory system is used. $($Round "Cost per Unit" to $2$ decimal places.$)$

$\backslash$table$[[,$FIFO$],[$Cost of Goods Available for Sale,$],[$Ending Inventory,$],[$Cost of Goods Sold,$]]$

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