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7-6 calculating cost of Goods Avallable for Sale. Eningmventory, sales. cost of Goods Soldand Gross Prott under Penodie FIFO, LIFO, and weighted Average Cest tLO

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7-6 calculating cost of Goods Avallable for Sale. Eningmventory, sales. cost of Goods Soldand Gross Prott under Penodie FIFO, LIFO, and weighted Average Cest tLO 7-3] The following are the transactions for the month of July. Unt Unit Units Cost Selling Price July Beginning 59 $10 July Puchase 295 13 (100) $15 25 July Ending 31 Inventory 254 Calaulate cost of goods avalable for sale and ending inventory, then sales cost of goods sold, and gross proit, under (a) FIFO, (D) LIFO, and (c) weighted average cost. Assume a periodic inventory system is used. (Round Cost per Unit to 2 decimal places and your final answers to nearest whole dollar amount (a)FIFO Units per Total of Goods Sold Unies from Beginning $10.00 Units from July 41 S13.00 b)LIFO Units perTotal 59 $10OS 590 of Goods Sold

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