2. value 166 points M7-8 Calculating Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory under Peric In its first month of operations, Literacy for the Iliterate opened a new bookstore and bought merchandise in the following order: (1) 300 units at $7 on January 1. (2) 450 units at 58 on January 8, and (3) 750 units at $9 on January 29 Assuming 900 units are on hand at the end of the mont calculate the cost of goods available for sale, ending inventory, and cost of goods sold under the (a) FIFO (b) LIFO, and (c) weighted average cost flow assumptions Assume a periodic inventory system is used (Round Cost per Unit to 2 decimal places.) FIFO Weighted Cost of Goods Available for Sale $ Ending Inventory Average Cost 12 45012,450 (7,470) 4.980 12,450 Cost of Goods Sold