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13 Required information [The following information applies to the questions displayed below.) In its first month of operations, Literacy for the literate opened a new
13 Required information [The following information applies to the questions displayed below.) In its first month of operations, Literacy for the literate 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, 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 LIFO. Assume a periodic inventory system is used (Round "Cost per Unit" to 2 decimal places.) Answer is complete but not entirely correct LIFO Cost of Goods Available for Sale $ 12.460 Ending Inventory 5,600 Cost of Goods Sold $ 0,860
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